Callan Family Office LLC Invests $439,000 in PACCAR Inc (NASDAQ:PCAR)

Callan Family Office LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,219 shares of the company’s stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares during the period. JPMorgan Chase & Co. increased its position in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock worth $364,690,000 after acquiring an additional 61,457 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

NASDAQ:PCAR opened at $110.06 on Monday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The stock’s 50-day moving average price is $107.27 and its 200-day moving average price is $106.16. The stock has a market capitalization of $57.76 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 16.69%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCAR. Citigroup cut their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Company Profile

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.