Kingsview Wealth Management LLC Invests $889,000 in PACCAR Inc. $PCAR

Kingsview Wealth Management LLC acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,398 shares of the company’s stock, valued at approximately $889,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new position in shares of PACCAR during the second quarter worth $28,000. Paladin Partners LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at $27,000. Fiduciary Financial Advisors purchased a new stake in shares of PACCAR in the 2nd quarter valued at $28,000. Steph & Co. acquired a new position in PACCAR during the 1st quarter worth about $29,000. Finally, MCF Advisors LLC lifted its stake in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 50,975 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,842 shares of company stock worth $7,565,677 over the last three months. Insiders own 1.99% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $125.34 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The company has a market cap of $65.97 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. The stock’s 50-day moving average is $127.35 and its two-hundred day moving average is $121.89. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the business posted $1.37 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. Analysts forecast that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is 29.41%.

Analyst Ratings Changes

PCAR has been the subject of several research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Morgan Stanley set a $119.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Wells Fargo & Company upped their target price on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $131.70.

About PACCAR

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.