PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,593 shares of the company’s stock after acquiring an additional 1,751 shares during the quarter. Apollon Wealth Management LLC’s holdings in PACCAR were worth $2,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. PSI Advisors LLC acquired a new position in PACCAR during the first quarter worth about $25,000. YHB Investment Advisors Inc. acquired a new position in PACCAR during the first quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new position in PACCAR during the first quarter worth about $27,000. Riverview Trust Co acquired a new position in PACCAR during the first quarter worth about $29,000. Finally, Rise Advisors LLC acquired a new position in PACCAR during the first quarter worth about $31,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.8 %

PCAR stock traded up $0.80 on Monday, hitting $95.97. 1,506,789 shares of the company were exchanged, compared to its average volume of 2,661,992. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The business’s fifty day moving average is $101.40 and its two-hundred day moving average is $108.34. The stock has a market capitalization of $50.31 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 1.45 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 EPS. As a group, research analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Analyst Ratings Changes

Several brokerages have issued reports on PCAR. Citigroup reduced their price target on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Evercore ISI reduced their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial reduced their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, Raymond James started coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.73.

PACCAR Company 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.