Brookstone Capital Management Has $1.92 Million Stake in PACCAR Inc. $PCAR

Key Points

• Brookstone Capital Management increased its stake in PACCAR Inc. by 19.9%, holding 20,159 shares valued at approximately $1.92 million.
• CEO R Preston Feight sold nearly 40,000 shares of PACCAR stock, decreasing their ownership by 15.19%.
• PACCAR reported a quarterly earnings miss with $1.12 EPS, slightly below the $1.14 consensus estimate, while revenue was $6.67 billion, surpassing expectations.

Brookstone Capital Management boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 19.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,159 shares of the company's stock after purchasing an additional 3,351 shares during the period. Brookstone Capital Management's holdings in PACCAR were worth $1,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCAR. Hazlett Burt & Watson Inc. lifted its holdings in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Applied Capital LLC FL lifted its holdings in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after acquiring an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after acquiring an additional 130 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock worth $228,000 after acquiring an additional 130 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in PACCAR by 5.8% during the first quarter. Cidel Asset Management Inc. now owns 3,172 shares of the company's stock worth $309,000 after acquiring an additional 174 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.02% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PCAR. Weiss Ratings reiterated a "buy (b-)" rating on shares of PACCAR in a report on Wednesday, October 8th. Truist Financial lifted their target price on PACCAR from $97.00 to $108.00 and gave the stock a "hold" rating in a report on Wednesday. Zacks Research lowered PACCAR from a "hold" rating to a "strong sell" rating in a report on Friday, October 10th. Jefferies Financial Group restated a "hold" rating and issued a $90.00 price target on shares of PACCAR in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $103.00 to $108.00 and gave the company a "neutral" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.59.

PACCAR Stock Up 0.8%

PACCAR stock opened at $100.13 on Friday. The company has a market cap of $52.58 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 4.12 and a beta of 0.94. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a fifty day simple moving average of $98.52 and a 200 day simple moving average of $95.71. The company has a current ratio of 1.82, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the previous year, the company posted $1.85 EPS. The business's revenue was down 20.7% on a year-over-year basis. Research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR's dividend payout ratio is presently 25.83%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.

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