Numerai GP LLC Boosts Stake in PACCAR Inc. $PCAR

Numerai GP LLC increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 124.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 26,877 shares of the company’s stock after buying an additional 14,908 shares during the quarter. Numerai GP LLC’s holdings in PACCAR were worth $2,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its stake in PACCAR by 3.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after purchasing an additional 108 shares during the last quarter. Matrix Trust Co boosted its position in PACCAR by 3.9% in the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock valued at $290,000 after buying an additional 110 shares during the last quarter. Forbes J M & Co. LLP increased its holdings in PACCAR by 4.3% in the 3rd quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock worth $262,000 after buying an additional 111 shares during the period. Parallel Advisors LLC raised its position in PACCAR by 1.6% during the 3rd quarter. Parallel Advisors LLC now owns 7,715 shares of the company’s stock worth $759,000 after buying an additional 118 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in PACCAR by 4.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,860 shares of the company’s stock valued at $281,000 after acquiring an additional 119 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 9,258 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the transaction, the chief executive officer owned 258,566 shares in the company, valued at approximately $33,536,010.20. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the sale, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 133,105 shares of company stock worth $16,869,046 over the last quarter. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PCAR shares. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial lifted their price objective on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Wells Fargo & Company set a $119.00 target price on PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.50.

PACCAR Stock Up 0.3%

PCAR stock opened at $115.63 on Tuesday. The firm has a market cap of $60.81 billion, a PE ratio of 25.64, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The firm’s fifty day moving average is $122.84 and its 200 day moving average is $109.40. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The company’s revenue was down 15.1% compared to the same quarter last year. On average, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Company 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.