Brookstone Capital Management Sells 13,528 Shares of PACCAR Inc. $PCAR

Brookstone Capital Management lessened its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 83.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,647 shares of the company’s stock after selling 13,528 shares during the period. Brookstone Capital Management’s holdings in PACCAR were worth $306,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Evolve Private Wealth LLC boosted its position in PACCAR by 16.3% during the first quarter. Evolve Private Wealth LLC now owns 3,027 shares of the company’s stock valued at $350,000 after acquiring an additional 424 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of PACCAR in the 1st quarter worth about $956,000. Park National Corp OH lifted its stake in shares of PACCAR by 105.4% in the 1st quarter. Park National Corp OH now owns 29,250 shares of the company’s stock valued at $3,378,000 after purchasing an additional 15,007 shares during the period. E. Ohman J or Asset Management AB lifted its stake in shares of PACCAR by 7.2% in the 1st quarter. E. Ohman J or Asset Management AB now owns 17,929 shares of the company’s stock valued at $2,071,000 after purchasing an additional 1,200 shares during the period. Finally, Founders Financial Securities LLC lifted its stake in shares of PACCAR by 8.1% in the 1st quarter. Founders Financial Securities LLC now owns 7,695 shares of the company’s stock valued at $978,000 after purchasing an additional 578 shares during the period. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCAR. Citigroup reaffirmed a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Truist Financial increased their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. BNP Paribas Exane began coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Finally, Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $122.00.

PACCAR Stock Down 0.9%

Shares of NASDAQ:PCAR opened at $119.60 on Tuesday. The business’s 50 day simple moving average is $116.86 and its two-hundred day simple moving average is $118.55. The firm has a market cap of $62.94 billion, a P/E ratio of 25.45, a PEG ratio of 1.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, research analysts forecast that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.