Kingsview Wealth Management LLC Has $367,000 Stake in PACCAR Inc (NASDAQ:PCAR)

Kingsview Wealth Management LLC decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 79.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,722 shares of the company’s stock after selling 14,346 shares during the period. Kingsview Wealth Management LLC’s holdings in PACCAR were worth $367,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PCAR. Quarry LP acquired a new position in shares of PACCAR in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. increased its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR in the 2nd quarter valued at about $36,000. Fortitude Family Office LLC increased its holdings in shares of PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares during the period. Finally, ORG Partners LLC increased its holdings in shares of PACCAR by 7,560.0% in the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock valued at $39,000 after purchasing an additional 378 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 0.3 %

PCAR opened at $116.18 on Friday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $60.91 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.83 and a beta of 0.89. The business has a 50 day moving average of $107.28 and a 200-day moving average of $103.28.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, 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 $0.30 dividend. 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 1.03%. PACCAR’s payout ratio is 13.41%.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, 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 sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Citigroup increased their price objective on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $117.64.

PACCAR 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.