PACCAR Inc. $PCAR Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,549 shares of the company’s stock after selling 1,233 shares during the period. Apollon Wealth Management LLC’s holdings in PACCAR were worth $1,668,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC grew its position in shares of PACCAR by 4.7% in the second quarter. Fifth Third Wealth Advisors LLC now owns 5,415 shares of the company’s stock valued at $515,000 after purchasing an additional 242 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of PACCAR in the second quarter valued at approximately $62,000. Applied Capital LLC FL increased its holdings in shares of PACCAR by 0.8% in the second quarter. Applied Capital LLC FL now owns 25,406 shares of the company’s stock valued at $2,415,000 after purchasing an additional 196 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of PACCAR by 3.6% in the second quarter. Aberdeen Group plc now owns 542,696 shares of the company’s stock valued at $51,589,000 after purchasing an additional 18,700 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of PACCAR by 33.5% in the second quarter. Blue Trust Inc. now owns 1,322 shares of the company’s stock valued at $126,000 after purchasing an additional 332 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCAR. Evercore ISI set a $114.00 price target on PACCAR and gave the company an “outperform” rating in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PACCAR in a report on Wednesday, October 8th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Truist Financial set a $97.00 price target on shares of PACCAR and gave the company a “hold” rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 39,965 shares of the firm’s 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 transaction, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

PACCAR stock opened at $93.23 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The stock has a market cap of $48.96 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.94. The firm has a 50 day simple moving average of $98.67 and a 200-day simple moving average of $95.48. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. On average, analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

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