Apollon Wealth Management LLC Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Apollon Wealth Management LLC lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,548 shares of the company’s stock after selling 370 shares during the quarter. Apollon Wealth Management LLC’s holdings in PACCAR were worth $1,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC boosted its holdings in shares of PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after acquiring an additional 97 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in PACCAR by 130.5% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company’s stock worth $66,023,000 after purchasing an additional 378,810 shares during the period. Delta Capital Management LLC purchased a new position in PACCAR during the 3rd quarter valued at about $3,712,000. Polianta Ltd purchased a new stake in shares of PACCAR in the third quarter worth about $1,154,000. Finally, Grove Bank & Trust lifted its holdings in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PCAR. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

PACCAR Price Performance

Shares of PACCAR stock opened at $106.11 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a fifty day moving average of $109.49 and a 200-day moving average of $104.64. The stock has a market capitalization of $55.63 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts expect that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 15.17%.

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.