Apollon Wealth Management LLC Acquires 3,763 Shares of PACCAR Inc (NASDAQ:PCAR)

Apollon Wealth Management LLC raised its stake in PACCAR Inc (NASDAQ:PCAR) by 30.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,037 shares of the company’s stock after purchasing an additional 3,763 shares during the period. Apollon Wealth Management LLC’s holdings in PACCAR were worth $1,566,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its position in shares of PACCAR by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 39,899 shares of the company’s stock worth $3,896,000 after purchasing an additional 747 shares during the period. Private Advisor Group LLC increased its holdings in PACCAR by 17.7% in the 4th quarter. Private Advisor Group LLC now owns 21,433 shares of the company’s stock valued at $2,093,000 after buying an additional 3,224 shares during the period. Summit Trail Advisors LLC boosted its holdings in shares of PACCAR by 4.5% in the 4th quarter. Summit Trail Advisors LLC now owns 3,078 shares of the company’s stock valued at $309,000 after purchasing an additional 133 shares in the last quarter. Spire Wealth Management increased its stake in shares of PACCAR by 18.9% in the 4th quarter. Spire Wealth Management now owns 68,479 shares of the company’s stock valued at $6,592,000 after purchasing an additional 10,869 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of PACCAR by 103.5% during the 4th quarter. National Bank of Canada FI now owns 576,749 shares of the company’s stock worth $55,818,000 after buying an additional 293,282 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCAR shares. The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial reissued a “hold” rating and issued a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. TD Cowen upped their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Stock Up 0.5 %

PCAR traded up $0.50 during trading on Wednesday, hitting $107.10. 826,650 shares of the company’s stock were exchanged, compared to its average volume of 2,438,114. The stock has a market cap of $56.14 billion, a P/E ratio of 11.06, a PEG ratio of 1.63 and a beta of 0.96. The business’s 50 day moving average is $116.18 and its two-hundred day moving average is $103.12. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $2.25 earnings per share. As a group, equities analysts expect that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 11.20%.

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,920 shares of company stock worth $4,650,324. 2.02% of the stock is owned by company insiders.

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.