Kingsview Wealth Management LLC Acquires 505 Shares of PACCAR Inc. $PCAR

Kingsview Wealth Management LLC increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,434 shares of the company’s stock after acquiring an additional 505 shares during the period. Kingsview Wealth Management LLC’s holdings in PACCAR were worth $422,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. FORA Capital LLC bought a new stake in PACCAR during the first quarter valued at about $597,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PACCAR by 77.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after buying an additional 103,664 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after buying an additional 88,551 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of PACCAR by 757.1% in the 1st quarter. Jump Financial LLC now owns 55,263 shares of the company’s stock valued at $5,381,000 after buying an additional 48,815 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of PACCAR by 177.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after buying an additional 1,677,736 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PCAR shares. Jefferies Financial Group reissued a “hold” rating and set a $90.00 target price on shares of PACCAR in a research report on Tuesday, October 21st. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Truist Financial increased their price objective on PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Wells Fargo & Company assumed coverage on PACCAR in a research report on Thursday, November 13th. They issued a “positive” rating and a $106.00 price objective for the company. Finally, UBS Group set a $103.00 target price on PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $106.54.

PACCAR Price Performance

Shares of PCAR opened at $102.99 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The company’s fifty day moving average price is $98.01 and its 200-day moving average price is $96.91. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The firm has a market capitalization of $54.09 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business’s revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the business earned $1.85 EPS. On average, equities research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s payout ratio is 25.83%.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is owned by company insiders.

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.