Callan Family Office LLC Makes New Investment in PACCAR Inc. $PCAR

Key Points

• Callan Family Office LLC initiated a PACCAR position by purchasing 9,413 shares valued at approximately $1.13 million. Institutional investors collectively own 64.9% of PCAR’s outstanding stock.
• PACCAR exceeded quarterly expectations, reporting $1.43 in earnings per share versus the $1.36 consensus estimate and $7.55 billion in revenue. Analysts maintain a consensus “Hold” rating with a $131.70 price target.
• PACCAR declared a quarterly dividend of $0.35 per share, equivalent to a $1.40 annualized payout and a 1.1% yield. Meanwhile, company insiders sold 56,842 shares worth approximately $7.57 million over the past three months.

Callan Family Office LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,413 shares of the company's stock, valued at approximately $1,131,000.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Keating Financial Advisory Services Inc. purchased a new stake in PACCAR during the 2nd quarter worth about $54,000. Allworth Financial LP purchased a new position in PACCAR in the 2nd quarter valued at about $760,000. B. Metzler seel. Sohn & Co. AG purchased a new position in PACCAR in the 2nd quarter valued at about $11,154,000. Silvant Capital Management LLC purchased a new position in PACCAR in the 2nd quarter valued at about $48,000. Finally, Advisors Capital Management LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth about $372,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares of the company's stock, valued at $512,970.90. The trade was a 43.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 50,975 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares of the company's stock, valued at $35,745,928.75. This represents a 15.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PCAR. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Wells Fargo & Company raised their target price on shares of PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Citigroup lifted their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Morgan Stanley set a $119.00 price target on PACCAR in a report on Wednesday, July 29th. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $131.70.

PACCAR Stock Down 0.8%

PCAR opened at $129.94 on Tuesday. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The business has a 50-day moving average of $126.66 and a two-hundred day moving average of $121.89. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The stock has a market capitalization of $68.40 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm posted $1.37 EPS. The company's revenue was up .5% on a year-over-year basis. On average, research analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR's dividend payout ratio is 29.41%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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