Brookstone Capital Management Purchases New Stake in PACCAR Inc (NASDAQ:PCAR)

Brookstone Capital Management purchased a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,291 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in PACCAR in the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. lifted its stake in PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Arlington Trust Co LLC bought a new position in PACCAR during the 3rd quarter valued at $30,000. Achmea Investment Management B.V. bought a new position in PACCAR during the 1st quarter valued at $33,000. Finally, NBC Securities Inc. bought a new position in PACCAR during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Up 1.2 %

Shares of PACCAR stock opened at $124.46 on Thursday. PACCAR Inc has a 52-week low of $67.48 and a 52-week high of $124.89. The stock’s 50-day simple moving average is $109.34 and its 200 day simple moving average is $96.67. The stock has a market capitalization of $65.22 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the previous year, the business posted $1.76 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc will post 8.13 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial assumed coverage on PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective on the stock. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Morgan Stanley assumed coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, TD Cowen lifted their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $109.39.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,496 shares of company stock worth $15,834,812. Company insiders own 2.02% of the company’s stock.

PACCAR 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.