Brighton Jones LLC Cuts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Brighton Jones LLC decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,156 shares of the company’s stock after selling 441 shares during the period. Brighton Jones LLC’s holdings in PACCAR were worth $8,608,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in shares of PACCAR in the 3rd quarter worth $33,668,000. International Assets Investment Management LLC increased its stake in shares of PACCAR by 8,388.6% in the 4th quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock valued at $36,729,000 after purchasing an additional 371,701 shares in the last quarter. Clarius Group LLC raised its position in shares of PACCAR by 52.7% during the 4th quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after purchasing an additional 349,727 shares during the last quarter. Invesco Ltd. raised its stake in PACCAR by 9.9% in the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after purchasing an additional 328,347 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

PACCAR stock traded down $7.53 during mid-day trading on Tuesday, reaching $106.11. The company had a trading volume of 7,370,121 shares, compared to its average volume of 2,411,904. The company has a market capitalization of $55.60 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The stock’s 50-day simple moving average is $116.69 and its 200-day simple moving average is $102.18. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. PACCAR’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s dividend payout ratio is currently 12.31%.

Analyst Ratings Changes

Several equities analysts have recently commented on PCAR shares. TD Cowen upped their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Truist Financial assumed coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price for the company. Evercore ISI boosted their price target on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $113.08.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the sale, the chief executive officer now owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The transaction was disclosed in a filing with the SEC, which is available through this link. In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the firm’s 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 sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders sold a total of 66,946 shares of company stock valued at $7,003,148 in the last ninety days. Corporate insiders own 2.02% of the company’s stock.

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.