Royal Bank of Canada Trims Stake in PACCAR Inc.

Royal Bank of Canada reduced its stake in PACCAR Inc. by 7.6% during the first quarter, according to a recent Form 13F filing with the Securities and Exchange Commission.

The company owned approximately 0.36% of PACCAR's shares worth $216 million at the end of the quarter. Royal Bank of Canada sold 152,977 shares during the period.

Other large investors made changes to their positions in PACCAR as well. Ares Financial Consulting purchased a new stake in the company, while MCF Advisors boosted its stake by 57.5% and Steph & Co. bought a new position.

PACCAR's stock price has been stable recently, with a 50-day moving average of $120.46 and a two-hundred day moving average of $120.68. The company's market capitalization is approximately $70.45 billion.