Illinois Municipal Retirement Fund Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Illinois Municipal Retirement Fund lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,728 shares of the company’s stock after buying an additional 8,320 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PACCAR were worth $14,230,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in shares of PACCAR during the third quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in shares of PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after buying an additional 130 shares during the period. Arlington Trust Co LLC purchased a new position in shares of PACCAR during the third quarter worth $30,000. Finally, NBC Securities Inc. purchased a new position in PACCAR in the third quarter valued at $34,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.2 %

Shares of PACCAR stock traded up $0.18 during trading hours on Tuesday, reaching $112.76. 574,949 shares of the company’s stock were exchanged, compared to its average volume of 2,283,675. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The firm has a market capitalization of $59.09 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.67 and a beta of 0.92. The company has a fifty day moving average of $116.10 and a 200-day moving average of $101.25. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 EPS. Sell-side analysts forecast that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Analyst Ratings Changes

A number of analysts have weighed in on PCAR shares. TD Cowen raised their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Truist Financial started coverage on PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target on the stock. Evercore ISI lifted their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. boosted their price target on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Morgan Stanley began coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and an average target price of $110.82.

Insider Buying and Selling

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,496 shares of company stock valued at $15,834,812. 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.