Moran Wealth Management LLC Sells 15,804 Shares of PACCAR Inc. $PCAR

Moran Wealth Management LLC cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,405 shares of the company’s stock after selling 15,804 shares during the quarter. PACCAR accounts for 0.8% of Moran Wealth Management LLC’s holdings, making the stock its 18th biggest position. Moran Wealth Management LLC’s holdings in PACCAR were worth $25,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in PACCAR during the fourth quarter valued at approximately $27,000. MCF Advisors LLC increased its stake in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares in the last quarter. Steph & Co. acquired a new stake in PACCAR in the first quarter worth $29,000. Elyxium Wealth LLC acquired a new stake in PACCAR in the fourth quarter worth $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in PACCAR in the third quarter worth $32,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCAR shares. Truist Financial boosted their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday. Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. Citigroup reiterated a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.45.

PACCAR Price Performance

NASDAQ:PCAR opened at $119.50 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company has a market cap of $62.89 billion, a PE ratio of 25.43, a PEG ratio of 1.11 and a beta of 0.97. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $131.88. The stock has a 50-day simple moving average of $116.34 and a 200 day simple moving average of $118.72.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts expect that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio is 29.79%.

PACCAR 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.