Illinois Municipal Retirement Fund Buys 8,320 Shares of PACCAR Inc (NASDAQ:PCAR)

Illinois Municipal Retirement Fund raised its stake in PACCAR Inc (NASDAQ:PCAR) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 145,728 shares of the company’s stock after acquiring an additional 8,320 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PACCAR were worth $14,230,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PCAR. International Assets Investment Management LLC grew its holdings in shares of PACCAR by 75.7% during the third quarter. International Assets Investment Management LLC now owns 4,431 shares of the company’s stock worth $376,000 after purchasing an additional 1,909 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of PACCAR by 8.1% during the third quarter. Ritholtz Wealth Management now owns 8,886 shares of the company’s stock worth $755,000 after purchasing an additional 669 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of PACCAR by 38.5% during the third quarter. HB Wealth Management LLC now owns 5,001 shares of the company’s stock valued at $425,000 after acquiring an additional 1,389 shares during the period. RFG Advisory LLC acquired a new position in shares of PACCAR during the third quarter valued at $211,000. Finally, DAVENPORT & Co LLC acquired a new position in shares of PACCAR during the third quarter valued at $245,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 0.2 %

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

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. As a group, equities analysts expect that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. PACCAR’s payout ratio is presently 12.31%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PCAR. JPMorgan Chase & Co. upped their price target on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Morgan Stanley started 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. The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI increased their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.82.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by corporate insiders.

About PACCAR

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.