According to PACCAR’s most recent Form 13F filing with the SEC, Allspring Global Investments Holdings LLC trimmed its position in PACCAR by 37.9% during the third quarter, selling 15,138 shares and retaining 24,807 shares valued at $2.42 million at quarter-end. This reduction marks one of the largest single adjustments among institutional holders, bringing Allspring’s ownership percentage below its prior average and reflecting a strategic reallocation of its industrial portfolio.

PACCAR’s third-quarter financial report showed revenue of $7.24 billion, which fell 20.7% year-over-year but exceeded consensus estimates by over $1 billion. Earnings per share came in at $1.12, missing analyst forecasts by $0.02. Net margin contracted to 9.11%, while return on equity reached 16.01%. In conjunction with results, the company declared a quarterly dividend of $0.33 per share, representing a 25.8% payout ratio and an annualized dividend of $1.32, a slight reduction from the previous distribution.

Research firms remain cautiously optimistic on PACCAR, with Sanford C. Bernstein maintaining an outperform rating and setting a $125 price target, and Wolfe Research upgrading to peer perform. Truist Financial raised its objective to $108 with a hold rating, while Morgan Stanley and Jefferies both hold targets at $90. Insider activity included CFO Brice J. Poplawski selling 3,369 shares at an average of $101.15 per share, reducing his stake by 87.8% and reflecting ongoing management portfolio adjustments.