Chevy Chase Trust Holdings LLC Purchases 2,076 Shares of PACCAR Inc. $PCAR

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

Other large investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after buying an additional 240 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of PACCAR during the first quarter worth approximately $29,000. Bayforest Capital Ltd lifted its holdings in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in shares of PACCAR during the first quarter worth approximately $40,000. 64.90% of the stock is owned by institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of PACCAR in a research report on Wednesday, October 8th. Zacks Research downgraded PACCAR from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Finally, Vertical Research raised PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $108.14.

PACCAR Stock Down 0.5%

NASDAQ PCAR opened at $94.69 on Friday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $98.48 and its two-hundred day moving average is $95.44. The company has a market capitalization of $49.72 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 3.89 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last posted its 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 return on equity of 18.25% and a net margin of 9.88%.The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $2.13 EPS. PACCAR’s revenue was down 15.7% on a year-over-year basis. Equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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

PACCAR Company 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.