PACCAR Inc (NASDAQ:PCAR) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 3.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,559 shares of the company’s stock after selling 3,979 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PACCAR were worth $11,708,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Madrona Financial Services LLC boosted its position in shares of PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after buying an additional 91 shares during the period. Global Financial Private Client LLC lifted its position in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the last quarter. Omnia Family Wealth LLC lifted its position in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after buying an additional 98 shares during the last quarter. Insight Wealth Partners LLC lifted its position in shares of PACCAR by 1.4% in the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after buying an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of PACCAR by 0.6% in the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after buying an additional 106 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the company’s 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 of the company’s stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Up 0.3 %

NASDAQ PCAR opened at $106.58 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $107.28 and its two-hundred day moving average is $105.53. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent analyst reports. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, Truist Financial lifted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

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.