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

Illinois Municipal Retirement Fund boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PCAR. Raymond James Financial Services Advisors Inc. boosted its position in shares of PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company's stock valued at $10,450,000 after buying an additional 16,360 shares during the period. Aigen Investment Management LP purchased a new position in shares of PACCAR during the third quarter valued at approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of PACCAR by 42.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company's stock valued at $47,518,000 after buying an additional 166,628 shares during the period. Pacer Advisors Inc. boosted its position in shares of PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company's stock valued at $7,004,000 after buying an additional 16,390 shares during the period. Finally, Nilsine Partners LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $1,337,000. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCAR. Morgan Stanley began coverage on PACCAR in a report on Monday, January 8th. They issued an "overweight" rating and a $125.00 price target for the company. Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 price target for the company. Evercore ISI boosted their price target on PACCAR from $94.00 to $101.00 and gave the company an "in-line" rating in a report on Tuesday, February 20th. Truist Financial began coverage on PACCAR in a report on Thursday, March 14th. They issued a "hold" rating and a $117.00 price target for the company. Finally, TD Cowen boosted their price target on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a report on Wednesday, January 24th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.82.

PACCAR Stock Performance

PCAR traded up $0.74 during midday trading on Tuesday, hitting $113.32. 2,399,673 shares of the company were exchanged, compared to its average volume of 2,307,863. The company's 50 day simple moving average is $116.10 and its 200 day simple moving average is $101.25. The firm has a market capitalization of $59.38 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth 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. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for 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%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.76 EPS. As a group, sell-side analysts predict that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR's dividend payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company's stock, valued at approximately $607,814.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares of the company's stock, valued at approximately $607,814.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Harrie Schippers sold 5,000 shares of the firm's stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock valued at $15,834,812 in the last ninety days. 2.02% of the stock is currently 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.