Brookstone Capital Management increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR – Get Rating) by 96.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,765 shares of the company’s stock after acquiring an additional 11,657 shares during the period. Brookstone Capital Management’s holdings in PACCAR were worth $1,927,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Disciplined Investments LLC grew its holdings in shares of PACCAR by 280.0% during the first quarter. Disciplined Investments LLC now owns 323 shares of the company’s stock worth $28,000 after purchasing an additional 238 shares during the last quarter. Riverview Trust Co acquired a new stake in PACCAR in the 1st quarter valued at about $30,000. Achmea Investment Management B.V. bought a new position in shares of PACCAR in the first quarter worth about $33,000. Prospera Financial Services Inc acquired a new position in shares of PACCAR during the first quarter worth approximately $39,000. Finally, CENTRAL TRUST Co grew its stake in shares of PACCAR by 800.0% during the first quarter. CENTRAL TRUST Co now owns 585 shares of the company’s stock valued at $52,000 after purchasing an additional 520 shares during the last quarter. 64.17% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on PCAR shares. Citigroup boosted their price objective on shares of PACCAR from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Credit Suisse Group lifted their price objective on PACCAR from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $106.00 to $94.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PACCAR from $94.00 to $97.00 in a research report on Wednesday, July 27th. Finally, Cowen cut their price objective on shares of PACCAR from $100.00 to $92.00 in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.21.
PACCAR Trading Down 0.9 %
PACCAR (NASDAQ:PCAR – Get Rating) last posted its earnings results on Tuesday, July 26th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.26. PACCAR had a return on equity of 18.64% and a net margin of 8.68%. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts predict that PACCAR Inc will post 7.73 EPS for the current year.
PACCAR Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 15th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. This is a boost from PACCAR’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, November 14th. PACCAR’s dividend payout ratio is presently 21.45%.
Insiders Place Their Bets
In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $91.50, for a total value of $183,000.00. Following the completion of the transaction, the vice president now owns 2,119 shares in the company, valued at $193,888.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.05% of the company’s stock.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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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