Chevy Chase Trust Holdings LLC Sells 9,295 Shares of PACCAR Inc. $PCAR

Chevy Chase Trust Holdings LLC decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 269,836 shares of the company’s stock after selling 9,295 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in PACCAR were worth $26,530,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PCAR. Norges Bank bought a new position in PACCAR during the second quarter worth about $472,520,000. Pacer Advisors Inc. increased its holdings in shares of PACCAR by 2,389.2% in the third quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after acquiring an additional 1,930,056 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of PACCAR by 235.9% in the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after acquiring an additional 1,784,236 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of PACCAR by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after purchasing an additional 1,165,443 shares during the period. Finally, Capital Research Global Investors raised its position in shares of PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after purchasing an additional 1,009,134 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the sale, the executive vice president owned 34,656 shares of the company’s stock, valued at $4,433,195.52. The trade was a 69.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 9,258 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the transaction, the chief executive officer owned 258,566 shares of the company’s stock, valued at $33,536,010.20. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Up 0.3%

NASDAQ:PCAR opened at $115.63 on Tuesday. The stock has a 50-day simple moving average of $122.84 and a 200 day simple moving average of $109.40. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a market cap of $60.81 billion, a PE ratio of 25.64, a PEG ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. On average, sell-side analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PCAR shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Citigroup upped their price target on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $116.50.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.