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

Kovitz Investment Group Partners LLC lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,249,428 shares of the company’s stock after selling 7,858 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in PACCAR were worth $122,844,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the last quarter. Focus Partners Wealth lifted its holdings in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Stephens Inc. AR boosted its position 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 purchasing an additional 482 shares during the period. Brookstone Capital Management increased its holdings in shares of 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 purchasing an additional 3,351 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position 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 valued at $20,918,000 after purchasing an additional 3,987 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on PCAR shares. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein set a $138.00 price target on PACCAR and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Finally, Citigroup upped their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR Stock Up 2.9%

NASDAQ PCAR opened at $128.46 on Friday. The company has a current ratio of 2.98, a quick ratio of 1.42 and a debt-to-equity ratio of 0.55. The company has a market cap of $67.56 billion, a price-to-earnings ratio of 28.48, a PEG 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 Inc. has a 1-year low of $84.65 and a 1-year high of $131.88.

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

PACCAR Cuts Dividend

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

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the transaction, the chief financial officer directly owned 903 shares of the company’s stock, valued at $117,760.23. This trade represents a 70.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the transaction, the chief executive officer owned 258,566 shares of the company’s stock, valued at $33,536,010.20. The trade was a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 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.

About PACCAR

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.