Moran Wealth Management LLC Grows Stake in PACCAR Inc. $PCAR

Moran Wealth Management LLC raised its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,480 shares of the company's stock after purchasing an additional 14,313 shares during the quarter. PACCAR comprises about 0.7% of Moran Wealth Management LLC's investment portfolio, making the stock its 27th biggest position. Moran Wealth Management LLC's holdings in PACCAR were worth $23,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. boosted its holdings in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares during the period. Hazlett Burt & Watson Inc. lifted its position in shares of PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of PACCAR during the first quarter worth $29,000. Bayforest Capital Ltd lifted its position in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in PACCAR during the 1st quarter worth $40,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PCAR shares. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a research note on Monday, July 28th. Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of PACCAR in a report on Wednesday, October 8th. Finally, Truist Financial set a $97.00 target price on PACCAR and gave the company a "hold" rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.59.

PACCAR Stock Performance

PCAR stock opened at $93.23 on Tuesday. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm has a market cap of $48.96 billion, a P/E ratio of 15.96, a P/E/G ratio of 3.79 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The stock's 50 day simple moving average is $98.67 and its 200 day simple moving average is $95.48.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

PACCAR Profile

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.

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