21,100 Shares in PACCAR Inc (NASDAQ:PCAR) Purchased by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 21,100 shares of the company’s stock, valued at approximately $1,206,000.

A number of other institutional investors have also recently bought and sold shares of PCAR. Cambridge Investment Research Advisors Inc. raised its position in PACCAR by 27.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,651 shares of the company’s stock valued at $454,000 after purchasing an additional 1,439 shares during the period. MML Investors Services LLC raised its position in PACCAR by 244.1% during the third quarter. MML Investors Services LLC now owns 23,636 shares of the company’s stock valued at $1,612,000 after purchasing an additional 16,768 shares during the period. Bank of New York Mellon Corp raised its position in PACCAR by 33.3% during the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after purchasing an additional 1,505,929 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of PACCAR by 14.7% in the third quarter. PNC Financial Services Group Inc. now owns 49,922 shares of the company’s stock worth $3,403,000 after buying an additional 6,412 shares during the period. Finally, American International Group Inc. raised its holdings in shares of PACCAR by 4.5% in the third quarter. American International Group Inc. now owns 178,903 shares of the company’s stock worth $12,199,000 after buying an additional 7,699 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:PCAR traded down $0.14 during midday trading on Monday, hitting $70.36. The stock had a trading volume of 1,048,720 shares, compared to its average volume of 2,072,312. PACCAR Inc has a one year low of $53.43 and a one year high of $72.89. The stock has a market cap of $24.45 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.29 and a beta of 1.24. The company has a quick ratio of 2.18, a current ratio of 2.33 and a debt-to-equity ratio of 0.75.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 29th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.08. PACCAR had a return on equity of 25.01% and a net margin of 9.34%. The company had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. PACCAR’s revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR Inc will post 6.43 EPS for the current fiscal year.

PCAR has been the topic of several recent analyst reports. Credit Suisse Group reiterated a “hold” rating and issued a $63.00 price target on shares of PACCAR in a report on Tuesday, January 22nd. ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Friday, December 21st. Zacks Investment Research downgraded PACCAR from a “strong-buy” rating to a “hold” rating in a report on Friday, January 11th. JPMorgan Chase & Co. downgraded PACCAR from a “neutral” rating to an “underweight” rating and set a $54.00 price target on the stock. in a report on Thursday, January 10th. Finally, Mizuho reiterated a “hold” rating on shares of PACCAR in a report on Monday, December 31st. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $67.48.

In other PACCAR news, CEO Ronald E. Armstrong sold 15,784 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $66.00, for a total transaction of $1,041,744.00. Following the sale, the chief executive officer now owns 222,499 shares of the company’s stock, valued at approximately $14,684,934. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David J. Danforth sold 1,500 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $64.99, for a total value of $97,485.00. Following the sale, the vice president now directly owns 6,571 shares in the company, valued at approximately $427,049.29. The disclosure for this sale can be found here. In the last three months, insiders sold 61,989 shares of company stock worth $4,160,345. 2.32% of the stock is owned by insiders.

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PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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