PACCAR Inc. $PCAR Stock Position Increased by Moran Wealth Management LLC

Moran Wealth Management LLC raised its position in PACCAR Inc. (NASDAQ:PCARFree Report) by 6.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 249,480 shares of the company’s stock after acquiring an additional 14,313 shares during the quarter. PACCAR accounts for 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 SEC filing.

Several other large investors also recently made changes to their positions in PCAR. FORA Capital LLC bought a new position in PACCAR in the 1st quarter worth approximately $597,000. Cambridge Investment Research Advisors Inc. boosted its position in PACCAR by 62.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock worth $3,533,000 after acquiring an additional 13,904 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in PACCAR by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after acquiring an additional 4,429 shares during the period. Stack Financial Management Inc bought a new stake in shares of PACCAR during the first quarter valued at about $20,585,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after purchasing an additional 88,551 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, 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 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 dated 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 completion of the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This represents 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.

Analyst Upgrades and Downgrades

Several research firms have commented on PCAR. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Citigroup increased their price objective on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, June 24th. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upped their target price on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Read Our Latest Stock Analysis on PACCAR

PACCAR Price Performance

PCAR stock opened at $93.23 on Tuesday. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The firm has a 50-day moving average of $98.67 and a two-hundred day moving average of $95.48. 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 capitalization of $48.96 billion, a PE ratio of 15.96, a P/E/G ratio of 3.79 and a beta of 0.94.

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

PACCAR Dividend Announcement

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

PACCAR Company Profile

(Free Report)

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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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