PACCAR Inc. $PCAR Stake Lowered by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 97.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 institutional investors and hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC acquired a new position in PACCAR in the 4th quarter worth about $27,000. MCF Advisors LLC lifted its holdings in shares of 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 last quarter. Elyxium Wealth LLC bought a new stake in shares of PACCAR in the 4th quarter valued at approximately $30,000. Wealth Watch Advisors INC bought a new stake in shares of PACCAR in the 3rd quarter valued at approximately $32,000. Finally, Camelot Portfolios LLC acquired a new position in PACCAR in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $118.95 on Friday. The firm has a market cap of $62.60 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The firm has a fifty day moving average price of $117.64 and a two-hundred day moving average price of $118.00.

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

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were given a dividend of $0.35 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Truist Financial boosted their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus 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.