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

Chevy Chase Trust Holdings LLC lessened its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 282,928 shares of the company's stock after selling 5,231 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of PACCAR worth $27,919,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. B&L Asset Management LLC bought a new stake in PACCAR in the 3rd quarter valued at about $222,000. Erste Asset Management GmbH bought a new position in PACCAR in the 3rd quarter valued at $63,186,000. Verition Fund Management LLC increased its position in shares of PACCAR by 41.2% during the 3rd quarter. Verition Fund Management LLC now owns 28,960 shares of the company's stock valued at $2,858,000 after purchasing an additional 8,457 shares during the last quarter. Isthmus Partners LLC purchased a new position in shares of PACCAR in the 3rd quarter worth about $6,276,000. Finally, Public Sector Pension Investment Board grew its position in PACCAR by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company's stock valued at $2,255,000 after buying an additional 2,700 shares during the period. 64.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Morgan Stanley dropped their price objective on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Truist Financial increased their target price on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, Citigroup lifted their price target on shares of PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $117.64.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $0.76 during trading on Tuesday, reaching $116.24. 1,651,765 shares of the company traded hands, compared to its average volume of 2,220,450. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $107.64 and a 200-day simple moving average of $103.28. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a market capitalization of $60.94 billion, a PE ratio of 12.99, a P/E/G ratio of 1.83 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company's quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. Equities research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

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.