Moran Wealth Management LLC Sells 38,060 Shares of PACCAR Inc (NASDAQ:PCAR)

Moran Wealth Management LLC decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 17.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,642 shares of the company’s stock after selling 38,060 shares during the period. Moran Wealth Management LLC’s holdings in PACCAR were worth $18,998,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PCAR. Madrona Financial Services LLC grew its position in PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares during the period. Global Financial Private Client LLC boosted its stake in PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the last quarter. Omnia Family Wealth LLC grew its stake in shares of PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after buying an additional 98 shares during the period. Insight Wealth Partners LLC raised its holdings in PACCAR by 1.4% in the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after buying an additional 104 shares during the period. Finally, Valley National Advisers Inc. increased its stake in PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 3.0 %

Shares of NASDAQ PCAR opened at $110.06 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market cap of $57.76 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The business has a 50 day simple moving average of $107.27 and a 200 day simple moving average of $106.16.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PCAR shares. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Truist Financial raised their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

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.