Kovitz Investment Group Partners LLC Has $557.45 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Kovitz Investment Group Partners LLC grew its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 370.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,359,095 shares of the company's stock after buying an additional 4,219,964 shares during the period. PACCAR makes up about 1.8% of Kovitz Investment Group Partners LLC's holdings, making the stock its 16th biggest holding. Kovitz Investment Group Partners LLC owned 1.02% of PACCAR worth $557,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PCAR. Meeder Asset Management Inc. grew its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new position in PACCAR in the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR during the 4th quarter valued at $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc purchased a new position in PACCAR in the fourth quarter worth about $43,000. Institutional investors own 64.90% of the company's stock.

PACCAR Trading Down 0.9 %

Shares of PCAR stock traded down $0.79 during mid-day trading on Friday, reaching $91.89. The company's stock had a trading volume of 2,869,209 shares, compared to its average volume of 2,750,562. The company's 50 day simple moving average is $97.55 and its 200-day simple moving average is $105.37. The firm has a market capitalization of $48.24 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12-month low of $85.05 and a 12-month high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. PACCAR's dividend payout ratio (DPR) is 16.69%.

Analysts Set New Price Targets

PCAR has been the topic of several recent research reports. Citigroup decreased their price target on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Truist Financial reduced their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $108.59.

Insider Buying and Selling at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by 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.