PACCAR Inc. (NASDAQ:PCAR) Position Trimmed by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 22.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,778 shares of the company's stock after selling 25,781 shares during the quarter. Illinois Municipal Retirement Fund's holdings in PACCAR were worth $8,450,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. grew its position in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares in the last quarter. Meeder Asset Management Inc. grew its position in PACCAR by 221.8% in 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 in the last quarter. Alpine Bank Wealth Management acquired a new stake in PACCAR in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its position in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in PACCAR in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analyst Weigh In

PCAR has been the subject of several research analyst reports. Melius Research set a $120.00 target price on PACCAR in a research note on Tuesday, March 18th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Friday. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research note on Wednesday, April 16th. Royal Bank Of Canada reduced their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $104.59.

Insider Activity at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.02% of the company's stock.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded up $0.01 during trading hours on Friday, hitting $94.89. The stock had a trading volume of 3,274,031 shares, compared to its average volume of 2,717,629. The stock's fifty day simple moving average is $92.69 and its 200 day simple moving average is $99.62. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The firm has a market capitalization of $49.81 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 3.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the previous year, the business posted $2.27 EPS. PACCAR's revenue for the quarter was down 16.0% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.39%. PACCAR's dividend payout ratio is presently 20.00%.

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.