Kovitz Investment Group Partners LLC Has $122.84 Million Stock Holdings in PACCAR Inc. $PCAR

Kovitz Investment Group Partners LLC decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,249,428 shares of the company’s stock after selling 7,858 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.24% of PACCAR worth $122,844,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares in the last quarter. Focus Partners Wealth lifted its holdings in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,812 shares in the last quarter. Stephens Inc. AR lifted its holdings in PACCAR by 8.0% during the second quarter. Stephens Inc. AR now owns 6,477 shares of the company’s stock worth $616,000 after acquiring an additional 482 shares in the last quarter. Brookstone Capital Management grew its stake in PACCAR by 19.9% in the second quarter. Brookstone Capital Management now owns 20,159 shares of the company’s stock valued at $1,916,000 after acquiring an additional 3,351 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in shares of PACCAR by 1.8% in the second quarter. Asset Management One Co. Ltd. now owns 220,055 shares of the company’s stock worth $20,918,000 after acquiring an additional 3,987 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Citigroup boosted their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $116.50.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the transaction, the chief financial officer directly owned 903 shares in the company, valued at $117,760.23. This trade represents a 70.90% 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. Also, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the sale, the executive vice president owned 34,656 shares in the company, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 133,105 shares of company stock valued at $16,869,046 in the last ninety days. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $128.46 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. The stock has a market capitalization of $67.56 billion, a P/E ratio of 28.48, a P/E/G ratio of 1.08 and a beta of 1.03. The company has a 50 day moving average of $119.60 and a 200-day moving average of $106.80.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The firm’s revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. PACCAR’s payout ratio is currently 29.27%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.