Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PACCAR Inc shares valued at $3,379,640 were sold by FEIGHT R PRESTON on May 08. At $72.64 per share, FEIGHT R PRESTON sold 46,523 shares. The insider’s holdings dropped to 128,105 shares worth approximately $9.1 million following the completion of this transaction.
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Also, BARKLEY MICHAEL T sold 1 shares, netting a total of over 57 in proceeds. Following the sale of shares at $71.63 each, the insider now holds 0 shares.
Before that, BARKLEY MICHAEL T had sold 25,072 shares from its account. In a trade valued at $1,892,881, the SR. VICE PRESIDENT/CONTROLLER traded PACCAR Inc shares for $75.50 each. Upon closing the transaction, the insider’s holdings decreased to 25,072 shares, worth approximately $3.66 million.
Analyzing PCAR Stock Performance
On Thursday, PACCAR Inc [NASDAQ: PCAR] rose 0.82% to $71.02. The stock’s lowest price that day was $69.80, but it reached a high of $71.095 in the same session. During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, PACCAR Inc shares have jumped approximately 7.64%. Shares of the company reached a 52-week high of $76.71 on 03/07/23 and a 52-week low of $64.64 on 01/05/23. A 50-day SMA is recorded $71.87, while a 200-day SMA reached $67.38. Nevertheless, trading volume fell to 2.37 million shares from 2.26 million shares the previous day.
Support And Resistance Levels for PACCAR Inc (PCAR)
According to the 24-hour chart, there is a support level at 70.18, which, if violated, would cause prices to drop to 69.34. In the upper region, resistance lies at 71.48. The next price resistance is at 71.93. RSI (Relative Strength Index) is 44.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.91, which suggests the price will decrease in the coming days. Percent R is at 70.35%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is PACCAR Inc subject to short interest?
Stocks of PACCAR Inc saw a sharp steep in short interest on May 14, 2023 dropping by -0.29 million shares to 8.41 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 8.7 million shares. A decline of -3.45% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.6 of the overall float, the days-to-cover ratio (short ratio) decline to 2.6.
Which companies own the most shares of PACCAR Inc (PCAR)?
According to The Vanguard Group, Inc. filings, the company currently owns 59,713,117 shares, which is about 11.43% of the total PCAR shares outstanding. The investor’s shares have appreciated by 4,306,868 from its previous 13-F filing of 55406249.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,891,798,064. SSgA Funds Management, Inc. reduced a -0.66% interest valued at $1.59 billion while Geode Capital Management LLC purchased a 252,738 stake. A total of 75,617 shares of PACCAR Inc were bought by Bank of America, NA during the quarter, and 2,717,240 were bought by Fidelity Management & Research Co. In its current portfolio, Massachusetts Financial Services holds 8,682,746 shares valued at $648.51 million.
In terms of PACCAR Inc share price expectations, FactSet research, analysts set an average price target of $81.14 in the next 12 months, up nearly 13.57% from the previous closing price of $70.44. Analysts anticipate PACCAR Inc stock to reach $103.00 by 2023, with the lowest price target being $73.00. In spite of this, 23 analysts ranked PACCAR Inc stock as a Hold at the end of 2023.