Moran Wealth Management LLC Has $22.90 Million Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Moran Wealth Management LLC boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 28.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 235,167 shares of the company's stock after acquiring an additional 52,525 shares during the period. PACCAR accounts for about 0.8% of Moran Wealth Management LLC's portfolio, making the stock its 26th largest holding. Moran Wealth Management LLC's holdings in PACCAR were worth $22,898,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PCAR. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. lifted its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after buying an additional 350 shares during the last quarter. Atala Financial Inc acquired a new stake in PACCAR during the fourth quarter worth approximately $43,000. Finally, OFI Invest Asset Management acquired a new stake in PACCAR during the 4th quarter worth $43,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director now directly owns 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Performance

Shares of PCAR stock traded up $2.26 during trading hours on Tuesday, reaching $94.01. 2,344,363 shares of the company's stock were exchanged, compared to its average volume of 2,750,067. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The stock has a market capitalization of $49.35 billion, a P/E ratio of 14.24, a P/E/G ratio of 3.36 and a beta of 0.95. The business has a fifty day moving average price of $92.17 and a 200-day moving average price of $100.09. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the previous year, the company posted $2.27 EPS. The firm's revenue for the quarter was down 16.0% compared to the same quarter last year. Analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PCAR. Evercore ISI reduced their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Citigroup boosted their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. Finally, Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $104.59.

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.