PACCAR Inc. $PCAR Position Increased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC grew its position in PACCAR Inc. (NASDAQ:PCAR) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,131 shares of the company’s stock after buying an additional 2,076 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of PACCAR worth $26,534,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its position in shares of PACCAR by 55.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 4,620 shares of the company’s stock valued at $439,000 after acquiring an additional 1,654 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its holdings in shares of PACCAR by 1.8% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 37,231 shares of the company’s stock valued at $3,539,000 after purchasing an additional 674 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of PACCAR by 23.0% in the second quarter. Nordea Investment Management AB now owns 100,480 shares of the company’s stock valued at $9,534,000 after purchasing an additional 18,767 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of PACCAR by 617.7% in the second quarter. Mutual Advisors LLC now owns 18,037 shares of the company’s stock worth $1,832,000 after buying an additional 15,524 shares during the period. Finally, Moran Wealth Management LLC grew its holdings in shares of PACCAR by 6.1% during the second quarter. Moran Wealth Management LLC now owns 249,480 shares of the company’s stock valued at $23,716,000 after buying an additional 14,313 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 0.5%

PACCAR stock opened at $94.69 on Friday. The firm has a market cap of $49.72 billion, a PE ratio of 16.21, a P/E/G ratio of 3.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The firm’s 50 day moving average price is $98.48 and its two-hundred day moving average price is $95.44. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the business posted $2.13 EPS. PACCAR’s quarterly revenue was down 15.7% on a year-over-year basis. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. PACCAR’s dividend payout ratio is 22.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCAR. JPMorgan Chase & Co. increased their price objective on PACCAR from $97.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average target price of $108.14.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

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.