Kingsview Wealth Management LLC bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,398 shares of the company’s stock, valued at approximately $889,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators increased its position in shares of PACCAR by 9.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after purchasing an additional 80 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after purchasing an additional 81 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after purchasing an additional 87 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in PACCAR by 3.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock worth $317,000 after purchasing an additional 87 shares during the last quarter. Finally, MCF Advisors LLC grew its holdings in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.
PACCAR Stock Performance
Shares of PCAR opened at $125.34 on Monday. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The firm has a 50-day moving average price of $127.35 and a 200 day moving average price of $121.89. The firm has a market capitalization of $65.97 billion, a P/E ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.97.
PACCAR Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on PCAR shares. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price objective on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Sanford C. Bernstein restated an “outperform” rating and set a $148.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $131.70.
View Our Latest Stock Analysis on PCAR
Insider Activity
In related news, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 1,391 shares in the company, valued at $184,307.50. This represents a 58.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last 90 days. 1.99% of the stock is owned by corporate insiders.
PACCAR Company Profile
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.
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