Cascade Investment Advisors Inc. Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Cascade Investment Advisors Inc. reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,397 shares of the company’s stock after selling 787 shares during the period. PACCAR makes up about 1.4% of Cascade Investment Advisors Inc.’s holdings, making the stock its 16th largest holding. Cascade Investment Advisors Inc.’s holdings in PACCAR were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in PACCAR by 47.8% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of PACCAR during the 3rd quarter worth $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in PACCAR by 115.7% in the 3rd 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 buying an additional 576,532 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCAR has been the subject of several research reports. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $121.23.

PACCAR Stock Performance

PCAR stock opened at $109.91 on Tuesday. The company has a market cap of $57.63 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The business’s fifty day moving average is $110.55 and its 200-day moving average is $104.37. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.