Brighton Jones LLC Boosts Stock Position in PACCAR Inc. $PCAR

Brighton Jones LLC grew its holdings in PACCAR Inc. (NASDAQ:PCAR) by 0.1% in the second quarter, Holdings Channel reports. The institutional investor owned 87,977 shares of the company’s stock after acquiring an additional 111 shares during the quarter. Brighton Jones LLC’s holdings in PACCAR were worth $8,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Bayforest Capital Ltd boosted its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Accent Capital Management LLC acquired a new stake in shares of PACCAR in the first quarter worth approximately $40,000. Marshall & Sullivan Inc. WA acquired a new stake in shares of PACCAR in the second quarter worth approximately $43,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of PACCAR in the first quarter worth approximately $58,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. Vertical Research raised PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Morgan Stanley set a $90.00 price target on PACCAR in a research note on Tuesday. Zacks Research lowered PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. lifted their price target on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $106.59.

PACCAR Stock Performance

NASDAQ PCAR opened at $100.13 on Friday. The stock’s fifty day moving average is $98.52 and its two-hundred day moving average is $95.77. The firm has a market capitalization of $52.58 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 1.82. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $6.23 billion. During the same period last year, the firm posted $1.85 EPS. The business’s quarterly revenue was down 20.7% on a year-over-year basis. On average, research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio is 25.83%.

About PACCAR

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.