Moran Wealth Management LLC Trims Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Moran Wealth Management LLC cut its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 quarter.

A number of other hedge funds have also recently made changes to their positions in PCAR. Madrona Financial Services LLC grew its holdings 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 acquiring an additional 91 shares in the last quarter. Global Financial Private Client LLC grew its holdings in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock worth $1,011,000 after acquiring an additional 97 shares in the last quarter. Omnia Family Wealth LLC grew its holdings in PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock worth $394,000 after acquiring an additional 98 shares in the last quarter. Insight Wealth Partners LLC grew its holdings in PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company's stock worth $760,000 after acquiring an additional 104 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after acquiring an additional 106 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

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Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded up $0.50 during midday trading on Monday, reaching $110.56. 4,923,855 shares of the stock were exchanged, compared to its average volume of 2,502,324. The firm has a market cap of $58.02 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The firm has a 50-day simple moving average of $107.41 and a two-hundred day simple moving average of $106.26. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS 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%. As a group, analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI lowered their price target on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Citigroup lowered their price target on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and an average 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.