Kovitz Investment Group Partners LLC Sells 4,097,154 Shares of PACCAR Inc. (NASDAQ:PCAR)

Kovitz Investment Group Partners LLC reduced its holdings in PACCAR Inc. (NASDAQ:PCAR) by 76.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,261,941 shares of the company’s stock after selling 4,097,154 shares during the quarter. Kovitz Investment Group Partners LLC owned 0.24% of PACCAR worth $122,875,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Farmers & Merchants Investments Inc. increased its holdings in shares of PACCAR by 33.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company’s stock worth $45,000 after acquiring an additional 116 shares in the last quarter. RMR Wealth Builders grew its holdings in shares of PACCAR by 1.4% during the first quarter. RMR Wealth Builders now owns 8,713 shares of the company’s stock worth $848,000 after buying an additional 122 shares in the last quarter. Applied Capital LLC FL grew its holdings in shares of PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock worth $2,455,000 after buying an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company’s stock worth $4,390,000 after buying an additional 130 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock worth $228,000 after buying an additional 130 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PCAR shares. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, July 28th. Truist Financial decreased their price objective on PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a report on Wednesday, July 23rd. Evercore ISI decreased their price objective on PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Finally, UBS Group upgraded PACCAR from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.77.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $100.66 on Thursday. The stock has a 50 day moving average price of $96.10 and a 200 day moving average price of $97.35. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The stock has a market capitalization of $52.86 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 3.97 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same period last year, the firm posted $2.13 earnings per share. The business’s revenue was down 15.7% on a year-over-year basis. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

PACCAR Profile

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.