Kovitz Investment Group Partners LLC Purchases 146,066 Shares of PACCAR Inc (NASDAQ:PCAR)

Kovitz Investment Group Partners LLC grew its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 14.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,139,131 shares of the company's stock after buying an additional 146,066 shares during the quarter. Kovitz Investment Group Partners LLC owned 0.22% of PACCAR worth $111,442,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new position in PACCAR in the second quarter worth $26,000. Meeder Asset Management Inc. increased its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of PACCAR in the second quarter valued at about $36,000. ORG Partners LLC boosted its holdings in PACCAR by 7,560.0% during the second quarter. ORG Partners LLC now owns 383 shares of the company's stock worth $39,000 after buying an additional 378 shares in the last quarter. Finally, Grove Bank & Trust grew its position in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PCAR shares. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a "hold" rating in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Friday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PACCAR currently has an average rating of "Hold" and a consensus target price of $117.83.

PACCAR Trading Down 1.5 %

Shares of PCAR traded down $1.74 on Friday, hitting $115.88. 1,916,392 shares of the stock traded hands, compared to its average volume of 1,958,968. The firm has a market capitalization of $60.76 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.86 and a beta of 0.91. The stock's 50 day moving average is $109.14 and its two-hundred day moving average is $103.63. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company's revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts predict that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, November 13th. PACCAR's payout ratio is presently 13.41%.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 3,230 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares of the company's stock, valued at $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last ninety days. 2.02% of the stock is currently owned by company insiders.

PACCAR Company 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.