96,063 Shares of PACCAR Inc. $PCAR Acquired by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) in the third quarter, Holdings Channel reports. The institutional investor purchased 96,063 shares of the company’s stock, valued at approximately $10,549,000.

Several other large investors also recently made changes to their positions in PCAR. International Assets Investment Management LLC lifted its stake in PACCAR by 9.8% during the third quarter. International Assets Investment Management LLC now owns 3,199 shares of the company’s stock valued at $352,000 after purchasing an additional 286 shares during the last quarter. Heritage Family Offices LLP acquired a new position in PACCAR in the third quarter worth approximately $28,000. Calamos Advisors LLC grew its position in PACCAR by 2.1% in the third quarter. Calamos Advisors LLC now owns 151,642 shares of the company’s stock worth $16,652,000 after buying an additional 3,068 shares during the last quarter. Alta Advisers Ltd grew its position in PACCAR by 93.5% in the third quarter. Alta Advisers Ltd now owns 3,720 shares of the company’s stock worth $408,000 after buying an additional 1,798 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of PACCAR by 9.5% in the third quarter. Kestra Advisory Services LLC now owns 43,933 shares of the company’s stock valued at $4,824,000 after buying an additional 3,814 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

PCAR has been the subject of a number of recent research reports. Truist Financial cut their price objective on PACCAR from $125.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. JPMorgan Chase & Co. cut their target price on PACCAR from $142.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Wells Fargo & Company set a $122.00 target price on PACCAR and gave the company an “equal weight” rating in a report on Thursday, October 8th. Finally, Freedom Broker upgraded PACCAR from a “hold” rating to a “buy” rating and decreased their price target for the company from $132.00 to $120.00 in a research report on Friday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $131.96.

PACCAR Stock Down 2.4%

NASDAQ PCAR traded down $2.52 during trading on Friday, reaching $101.98. 4,214,240 shares of the company’s stock were exchanged, compared to its average volume of 3,588,307. The company has a current ratio of 3.22, a quick ratio of 2.98 and a debt-to-equity ratio of 0.50. PACCAR Inc. has a fifty-two week low of $93.86 and a fifty-two week high of $139.24. The company’s fifty day simple moving average is $112.25 and its 200-day simple moving average is $119.73. The firm has a market capitalization of $53.69 billion, a PE ratio of 19.42, a P/E/G ratio of 1.32 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 27th. The company reported $1.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.61. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $7.48 billion. PACCAR had a return on equity of 13.76% and a net margin of 9.50%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. Sell-side analysts predict that PACCAR Inc. will post 5.84 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, November 10th. PACCAR’s dividend payout ratio is currently 26.67%.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of commercial trucks and a provider of related products and services. Its truck brands include Kenworth and Peterbilt in North America and DAF in Europe. The company also manufactures engines and supplies replacement parts and aftermarket support for its vehicles.

PACCAR serves customers through manufacturing, sales and service operations across North America, Europe and other international markets. Its businesses also include PACCAR Financial, which provides financing and leasing solutions to truck customers and dealers.

Founded in 1905 as Seattle Car Manufacturing Company, the business later became Pacific Car and Foundry before adopting the PACCAR name in 1972.