Illinois Municipal Retirement Fund Sells 25,781 Shares of PACCAR Inc. (NASDAQ:PCAR)

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

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after acquiring an additional 290 shares during the period. IFP Advisors Inc lifted its holdings in PACCAR by 18.3% during the 4th quarter. IFP Advisors Inc now owns 952 shares of the company's stock valued at $99,000 after purchasing an additional 147 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of PACCAR by 9.9% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,708 shares of the company's stock worth $503,000 after acquiring an additional 426 shares in the last quarter. New York Life Investment Management LLC grew its position in PACCAR by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 70,284 shares of the company's stock worth $7,311,000 after acquiring an additional 558 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in PACCAR by 1.8% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 206,619 shares of the company's stock valued at $21,493,000 after purchasing an additional 3,700 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 3.3%

Shares of NASDAQ:PCAR traded up $3.18 during trading on Tuesday, hitting $98.24. 2,229,010 shares of the company's stock traded hands, compared to its average volume of 2,715,221. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a market cap of $51.57 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 3.51 and a beta of 0.95. The company has a 50-day moving average price of $92.85 and a 200-day moving average price of $99.40.

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

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Wednesday, May 14th. PACCAR's payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and cut their price target for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, Evercore ISI lowered their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $104.59.

Insider Activity

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the company's 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 purchase, the director owned 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.02% of the stock is currently owned by 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.