Brighton Jones LLC Has $8.61 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Brighton Jones LLC trimmed its position in PACCAR Inc (NASDAQ:PCAR) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PCAR. DAVENPORT & Co LLC acquired a new position in PACCAR during the 3rd quarter valued at about $245,000. Valeo Financial Advisors LLC lifted its position in shares of PACCAR by 10.3% during the third quarter. Valeo Financial Advisors LLC now owns 4,712 shares of the company’s stock valued at $401,000 after purchasing an additional 439 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in PACCAR in the 3rd quarter worth about $699,000. Finally, Raymond James & Associates increased its stake in PACCAR by 29.1% in the 3rd quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock valued at $6,769,000 after buying an additional 17,953 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $7.53 during midday trading on Tuesday, reaching $106.11. 7,370,121 shares of the company traded hands, compared to its average volume of 2,411,904. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The firm’s fifty day moving average price is $116.69 and its two-hundred day moving average price is $102.18. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $55.60 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.68 and a beta of 0.92.

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

PACCAR Increases Dividend

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

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was 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 in the company, valued at approximately $607,814.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now owns 5,726 shares in the company, valued at approximately $584,739.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,946 shares of company stock worth $7,003,148. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent analyst reports. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped their target price for the company from $84.00 to $97.00 in a report on Friday, January 19th. Morgan Stanley initiated coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Truist Financial began coverage on shares of PACCAR in a research note on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price on the stock. Eight 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.08.

PACCAR Company 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.