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

Apollon Wealth Management LLC decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 13.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,918 shares of the company’s stock after selling 2,675 shares during the quarter. Apollon Wealth Management LLC’s holdings in PACCAR were worth $1,669,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. New Covenant Trust Company N.A. acquired a new stake in PACCAR during the first quarter valued at approximately $27,000. Quarry LP bought a new position in PACCAR in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. grew its holdings in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in PACCAR in the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC boosted its stake in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $115.06 on Friday. The company has a fifty day moving average price of $103.20 and a 200-day moving average price of $102.75. The company has a market capitalization of $60.33 billion, a P/E ratio of 13.05, a PEG ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, equities analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $99.00 to $129.00 in a research report on Wednesday. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $116.55.

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.