Chevy Chase Trust Holdings LLC Has $28.83 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Chevy Chase Trust Holdings LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 277,161 shares of the company’s stock after selling 5,767 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in PACCAR were worth $28,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Erste Asset Management GmbH acquired a new position in PACCAR during the third quarter valued at approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after acquiring an additional 576,532 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $105.96 on Friday. The firm has a market capitalization of $55.55 billion, a P/E ratio of 13.40, a PEG ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business has a 50-day moving average of $108.52 and a 200-day moving average of $104.74. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities analysts anticipate that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is presently 15.17%.

Wall Street Analyst Weigh In

PCAR has been the subject of several research reports. Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup cut their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,871 shares of company stock worth $14,586,333. 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.