Fox Run Management L.L.C. Purchases Shares of 3,018 PACCAR Inc. $PCAR

Fox Run Management L.L.C. purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,018 shares of the company’s stock, valued at approximately $287,000.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after buying an additional 3,379,165 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of PACCAR by 2,957.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company’s stock valued at $205,469,000 after acquiring an additional 2,041,168 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in PACCAR by 177.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after purchasing an additional 1,677,736 shares during the period. Jones Financial Companies Lllp increased its holdings in PACCAR by 16,393.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock valued at $139,402,000 after purchasing an additional 1,422,992 shares in the last quarter. Finally, Nuveen LLC purchased a new position in PACCAR in the first quarter valued at about $125,566,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PACCAR stock opened at $96.55 on Friday. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $50.71 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The stock has a 50 day moving average of $98.29 and a 200-day moving average of $96.62.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter last year, the firm posted $1.85 EPS. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. On average, analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is 25.83%.

Analysts Set New Price Targets

A number of research analysts have commented on PCAR shares. UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company initiated coverage on shares of PACCAR in a research note on Thursday. They issued a “positive” rating and a $106.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average price target of $106.54.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.02% of the company’s stock.

About PACCAR

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.