By otakuyassine3@gmail.com 
Apollon Wealth Management LLC lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,548 shares of the company’s stock after selling 370 shares during the period. Apollon Wealth Management LLC’s holdings in PACCAR were worth $1,721,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA raised its stake in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. JPMorgan Chase & Co. boosted its position in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares during the period. Institutional investors own 64.90% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on PCAR. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Truist Financial boosted their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.95.
Read Our Latest Stock Report on PCAR
PACCAR Stock Performance
NASDAQ PCAR opened at $106.11 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. The company has a fifty day moving average price of $109.49 and a 200-day moving average price of $104.64. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a market cap of $55.63 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 2.79 and a beta of 0.92.
PACCAR (NASDAQ:PCAR – Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts predict that PACCAR Inc will post 7.6 EPS for the current fiscal year.
PACCAR Increases Dividend
The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 15.17%.
Insider Activity
In related news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,871 shares of company stock valued at $14,586,333 in the last ninety days. 2.02% of the stock is currently owned by 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.
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