Brooklyn Investment Group Buys 447 Shares of PACCAR Inc (NASDAQ:PCAR)

Brooklyn Investment Group lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,570 shares of the company’s stock after purchasing an additional 447 shares during the period. Brooklyn Investment Group’s holdings in PACCAR were worth $451,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PCAR. Quadrature Capital Ltd purchased a new stake in shares of PACCAR during the first quarter valued at about $534,000. Janus Henderson Group PLC raised its position in PACCAR by 0.4% during the 1st quarter. Janus Henderson Group PLC now owns 68,188 shares of the company’s stock worth $8,445,000 after buying an additional 301 shares during the last quarter. Tidal Investments LLC raised its position in PACCAR by 19.5% during the 1st quarter. Tidal Investments LLC now owns 21,616 shares of the company’s stock worth $2,678,000 after buying an additional 3,526 shares during the last quarter. Comerica Bank raised its position in PACCAR by 8.7% during the 1st quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after buying an additional 13,075 shares during the last quarter. Finally, WealthPlan Investment Management LLC purchased a new position in PACCAR during the 1st quarter worth approximately $216,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PCAR shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Citigroup raised their price objective on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $117.64.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.6 %

NASDAQ PCAR opened at $115.82 on Wednesday. The firm’s 50-day moving average is $106.55 and its two-hundred day moving average is $103.09. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The stock has a market capitalization of $60.72 billion, a P/E ratio of 12.94, a PEG ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. PACCAR’s payout ratio is 13.41%.

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.