96,063 Shares in PACCAR Inc. $PCAR Bought by CenterBook Partners LP

Key Points

• CenterBook Partners LP opened a new PACCAR position, acquiring 96,063 shares worth approximately $10.55 million in the third quarter. Institutional investors collectively own 64.9% of the company’s shares.
• PACCAR reported quarterly EPS of $1.61, matching estimates, while revenue reached $8.50 billion—above expectations and up 20.8% year over year.
• The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized yield of 1.4%. Analysts’ consensus rating was “Hold,” with an average price target of $131.96.

CenterBook Partners LP acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 96,063 shares of the company's stock, valued at approximately $10,549,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of PACCAR by 9.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,199 shares of the company's stock worth $352,000 after purchasing an additional 286 shares during the period. Heritage Family Offices LLP acquired a new position in PACCAR during the 3rd quarter valued at approximately $28,000. Calamos Advisors LLC grew its stake in PACCAR by 2.1% during the 3rd 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 stake in PACCAR by 93.5% during the 3rd 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 position in PACCAR by 9.5% in the third quarter. Kestra Advisory Services LLC now owns 43,933 shares of the company's stock worth $4,824,000 after buying an additional 3,814 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR stock traded down $2.52 during midday trading on Friday, reaching $101.98. 4,214,240 shares of the company were exchanged, compared to its average volume of 3,588,307. The company's 50 day moving average price is $112.25 and its two-hundred day moving average price is $119.73. The company has a market cap of $53.69 billion, a P/E ratio of 19.42, a PEG ratio of 1.32 and a beta of 0.96. PACCAR Inc. has a 12 month low of $93.86 and a 12 month high of $139.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.98 and a current ratio of 3.22.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $1.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.61. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. The business had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $7.48 billion. During the same period last year, the firm posted $1.12 earnings per share. The business's revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts expect that PACCAR Inc. will post 5.84 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR's dividend payout ratio (DPR) is presently 26.67%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of PACCAR from $120.00 to $140.00 and gave the stock a "hold" rating in a research report on Wednesday, July 29th. Wells Fargo & Company set a $122.00 price target on PACCAR and gave the company an "equal weight" rating in a report on Thursday, October 8th. Evercore boosted their price objective on PACCAR from $139.00 to $162.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised PACCAR from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $130.00 to $150.00 in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. lowered 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. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $131.96.

About PACCAR

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.

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