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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Wellington Management Group LLP lifted its holdings in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after acquiring an additional 1,164,692 shares during the period. Erste Asset Management GmbH purchased a new position in shares of PACCAR during the 3rd quarter worth about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock worth $106,047,000 after acquiring an additional 576,532 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR stock traded up $0.67 during mid-day trading on Wednesday, reaching $107.21. The company had a trading volume of 1,880,264 shares, compared to its average volume of 2,303,779. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $56.21 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.75 and a beta of 0.92. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock's 50-day simple moving average is $107.97 and its two-hundred day simple moving average is $105.04.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared 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 of this dividend was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is currently 16.69%.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred 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 transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company's stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,547 shares of company stock worth $17,625,128. Insiders own 2.02% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PCAR. Royal Bank of Canada reiterated a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. 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 report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.77.

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.