Moran Wealth Management LLC Has $25.57 Million Stock Holdings in PACCAR Inc. $PCAR

Moran Wealth Management LLC decreased its stake in PACCAR Inc. (NASDAQ:PCAR) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,405 shares of the company’s stock after selling 15,804 shares during the period. PACCAR accounts for approximately 0.8% of Moran Wealth Management LLC’s holdings, making the stock its 18th largest position. Moran Wealth Management LLC’s holdings in PACCAR were worth $25,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ares Financial Consulting LLC bought a new stake in PACCAR during the fourth quarter worth about $27,000. MCF Advisors LLC boosted its position in PACCAR by 57.5% during 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 during the last quarter. Steph & Co. bought a new position in PACCAR in the first quarter valued at approximately $29,000. Elyxium Wealth LLC bought a new position in PACCAR in the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $119.50 on Friday. The firm has a market cap of $62.89 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. The business’s 50 day moving average is $116.34 and its 200-day moving average is $118.72. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (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 business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the company posted $1.46 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Equities research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PCAR shares. Citigroup reiterated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $122.45.

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.