PACCAR Inc (NASDAQ:PCAR) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 291,534 shares of the company’s stock after selling 2,535 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of PACCAR worth $36,118,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in PACCAR during the fourth quarter worth about $448,288,000. TD Asset Management Inc grew its holdings in PACCAR by 112.2% during the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after acquiring an additional 1,095,894 shares during the period. Point72 Asset Management L.P. acquired a new position in PACCAR during the fourth quarter worth about $87,441,000. Epoch Investment Partners Inc. boosted its position in PACCAR by 113.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after acquiring an additional 562,571 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in PACCAR by 226.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 574,690 shares of the company’s stock worth $71,198,000 after acquiring an additional 398,804 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research reports. Citigroup began coverage on PACCAR in a research report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price objective for the company. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group lifted their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $113.92.

PACCAR Stock Performance

Shares of PCAR traded down $0.08 on Wednesday, reaching $101.26. 864,963 shares of the stock traded hands, compared to its average volume of 2,514,891. The firm has a market cap of $53.08 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The stock’s 50-day moving average price is $106.11 and its 200-day moving average price is $108.01.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 EPS. Equities analysts forecast that PACCAR Inc will post 8.37 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio is currently 12.45%.

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by corporate 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.