Apollon Wealth Management LLC Cuts Holdings in PACCAR Inc. $PCAR

Apollon Wealth Management LLC trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,549 shares of the company’s stock after selling 1,233 shares during the quarter. Apollon Wealth Management LLC’s holdings in PACCAR were worth $1,668,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FORA Capital LLC purchased a new position in PACCAR during the first quarter valued at approximately $597,000. Cambridge Investment Research Advisors Inc. grew its holdings in PACCAR by 62.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock worth $3,533,000 after purchasing an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in PACCAR by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after purchasing an additional 4,429 shares during the last quarter. Moran Wealth Management LLC grew its holdings in PACCAR by 28.8% in the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company’s stock worth $22,898,000 after purchasing an additional 52,525 shares during the last quarter. Finally, Stack Financial Management Inc purchased a new position in PACCAR in the first quarter worth $20,585,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $93.23 on Tuesday. The firm has a market capitalization of $48.96 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company’s fifty day moving average price is $98.67 and its 200-day moving average price is $95.48.

PACCAR (NASDAQ:PCAR) last posted its 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. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $2.13 earnings per share. On average, equities research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR’s dividend payout ratio is 22.60%.

Wall Street Analyst Weigh In

PCAR has been the topic of several analyst reports. Truist Financial set a $97.00 price target on shares of PACCAR and gave the stock a “hold” rating in a report on Wednesday, October 8th. Citigroup lifted their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, July 28th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.59.

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.