Kingsview Wealth Management LLC Lowers Holdings in PACCAR Inc (NASDAQ:PCAR)

Kingsview Wealth Management LLC decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 79.4% during the 3rd 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 quarter. Kingsview Wealth Management LLC's holdings in PACCAR were worth $367,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PCAR. Janus Henderson Group PLC raised its holdings in PACCAR by 0.4% during the first quarter. Janus Henderson Group PLC now owns 68,188 shares of the company's stock worth $8,445,000 after acquiring an additional 301 shares in the last quarter. Tidal Investments LLC raised its position in PACCAR by 19.5% during the first quarter. Tidal Investments LLC now owns 21,616 shares of the company's stock worth $2,678,000 after acquiring an additional 3,526 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in PACCAR in the first quarter valued at $400,000. LRI Investments LLC bought a new position in shares of PACCAR in the 1st quarter valued at about $65,000. Finally, Swedbank AB acquired a new position in shares of PACCAR during the 1st quarter worth about $37,426,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kevin D. Baney sold 9,894 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the sale, the senior vice president now owns 7,121 shares of the company's stock, valued at approximately $761,947. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

PACCAR Trading Up 0.7 %

Shares of PCAR stock traded up $0.82 during trading hours on Friday, hitting $117.00. 1,069,530 shares of the company's stock traded hands, compared to its average volume of 2,605,578. The stock has a market cap of $61.34 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock's 50 day simple moving average is $107.64 and its 200 day simple moving average is $103.35.

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

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders 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 yield of 1.03%. PACCAR's dividend payout ratio (DPR) is currently 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.