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PACCAR Inc. $PCAR Stock Position Lessened by Rhumbline Advisers
Rhumbline Advisers reduced its stake in PACCAR Inc. by 4.5% during the third quarter, now holding 1,016,489 shares valued at approximately $99.94 million. PACCAR’s latest quarterly earnings showed EPS in line with estimates but revenue missed forecasts, with mixed analyst reactions and significant insider selling. Despite a recent upgrade to ‘Buy’ by Bank of America, the consensus rating for PACCAR remains ‘Hold’ with an average price target of $116.50.