Cascade Investment Advisors Inc. Has $2.23 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Cascade Investment Advisors Inc. trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,397 shares of the company’s stock after selling 787 shares during the quarter. PACCAR makes up 1.4% of Cascade Investment Advisors Inc.’s holdings, making the stock its 16th biggest holding. Cascade Investment Advisors Inc.’s holdings in PACCAR were worth $2,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Everence Capital Management Inc. bought a new position in shares of PACCAR in the fourth quarter valued at approximately $1,984,000. Sanctuary Advisors LLC grew its position in shares of PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. increased its position in shares of PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after buying an additional 5,433 shares during the period. Insight Wealth Strategies LLC lifted its stake in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

PACCAR stock opened at $109.91 on Tuesday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The business has a 50 day simple moving average of $110.55 and a 200-day simple moving average of $104.37. The stock has a market capitalization of $57.63 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93.

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 given a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is presently 13.41%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of recent research reports. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.23.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.02% of the stock is owned by corporate insiders.

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.