Cascade Investment Advisors Inc. Sells 650 Shares of PACCAR Inc (NASDAQ:PCAR)

Cascade Investment Advisors Inc. decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,019 shares of the company’s stock after selling 650 shares during the quarter. PACCAR comprises approximately 1.8% of Cascade Investment Advisors Inc.’s holdings, making the stock its 7th biggest holding. Cascade Investment Advisors Inc.’s holdings in PACCAR were worth $2,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. PSI Advisors LLC purchased a new stake in PACCAR during the 1st quarter worth $25,000. Riverview Trust Co purchased a new stake in PACCAR during the 1st quarter worth $29,000. Rise Advisors LLC purchased a new stake in PACCAR during the 1st quarter worth $31,000. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. Finally, ORG Partners LLC increased its stake in PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after buying an additional 372 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several analyst reports. TD Cowen lifted their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Truist Financial reissued a “hold” rating and issued a $121.00 target price (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Evercore ISI boosted their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada started coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $112.62.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock valued at $4,779,241 in the last ninety days. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded up $0.54 during midday trading on Thursday, hitting $108.87. The company’s stock had a trading volume of 2,313,726 shares, compared to its average volume of 2,425,220. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm’s fifty day moving average price is $114.63 and its 200-day moving average price is $104.81. The firm has a market cap of $57.06 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.63 and a beta of 0.96. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.25 EPS. On average, sell-side analysts forecast that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.10%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, May 14th. PACCAR’s payout ratio is presently 12.45%.

About PACCAR

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.