Chevy Chase Trust Holdings LLC Cuts Stake in PACCAR Inc (NASDAQ:PCAR)

Chevy Chase Trust Holdings LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,161 shares of the company’s stock after selling 5,767 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of PACCAR worth $28,830,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PCAR. Madrona Financial Services LLC boosted its stake in shares of PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares during the last quarter. Global Financial Private Client LLC boosted its stake in shares of PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after purchasing an additional 97 shares during the last quarter. Omnia Family Wealth LLC boosted its stake in shares of PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after purchasing an additional 98 shares during the last quarter. Insight Wealth Partners LLC boosted its stake in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after purchasing an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.7 %

PCAR opened at $105.96 on Friday. The firm has a market capitalization of $55.55 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The firm’s 50 day moving average is $108.52 and its 200-day moving average is $104.74. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts expect 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 issued 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 payout ratio is currently 15.17%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was 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 directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. 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 over the last 90 days. 2.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PCAR shares. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Citigroup cut their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Seven equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

About PACCAR

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.