PACCAR Inc. $PCAR Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 97.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,559 shares of the company’s stock after selling 1,214,869 shares during the period. Kovitz Investment Group Partners LLC’s holdings in PACCAR were worth $3,785,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PCAR. Ares Financial Consulting LLC bought a new position in PACCAR in the 4th quarter valued at about $27,000. MCF Advisors LLC increased its stake in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the period. Elyxium Wealth LLC bought a new stake in shares of PACCAR during the 4th quarter worth about $30,000. Wealth Watch Advisors INC bought a new stake in shares of PACCAR during the 3rd quarter worth about $32,000. Finally, Camelot Portfolios LLC acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $33,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $118.95 on Friday. The stock has a market capitalization of $62.60 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.10 and a beta of 0.98. PACCAR Inc. has a 1-year low of $90.05 and a 1-year high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company has a 50 day moving average price of $117.64 and a 200 day moving average price of $118.00.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, research analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is presently 29.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Truist Financial increased their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $122.00.

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.