Moran Wealth Management LLC Cuts Position in PACCAR Inc. $PCAR

Moran Wealth Management LLC reduced its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,087 shares of the company’s stock after selling 4,393 shares during the period. PACCAR comprises about 0.7% of Moran Wealth Management LLC’s holdings, making the stock its 29th largest holding. Moran Wealth Management LLC’s holdings in PACCAR were worth $24,097,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. lifted its stake in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Private Wealth Management Group LLC increased its stake in PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. 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. Hantz Financial Services Inc. boosted its stake in shares of PACCAR by 43.8% in the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after purchasing an additional 134 shares during the period. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of PACCAR in the second quarter valued at approximately $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Down 1.5%

Shares of NASDAQ PCAR opened at $115.30 on Thursday. The business has a 50-day moving average of $105.98 and a two-hundred day moving average of $100.81. The company has a market capitalization of $60.56 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 14.56 and a beta of 1.01. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $119.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.PACCAR’s revenue was down 20.7% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. On average, analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, February 11th. PACCAR’s payout ratio is currently 25.83%.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PCAR. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Citigroup reiterated a “neutral” rating and issued a $115.00 target price (up from $105.00) on shares of PACCAR in a report on Thursday, December 11th. Sanford C. Bernstein reissued an “outperform” rating and set a $125.00 target price on shares of PACCAR in a research note on Friday, December 5th. Finally, UBS Group set a $103.00 price target on PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.04.

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.