PACCAR Inc [PCAR] Shares Jump Approximately 44.11% Over the Year


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PACCAR Inc shares valued at $4,813,967 were sold by FEIGHT R PRESTON on Aug 02. At $85.96 per share, FEIGHT R PRESTON sold 56,000 shares. The insider’s holdings dropped to 128,105 shares worth approximately $10.54 million following the completion of this transaction.

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Also, SCHIPPERS HARRIE sold 24,000 shares, netting a total of over 2,065,757 in proceeds. Following the sale of shares at $86.07 each, the insider now holds 93,522 shares.

Before that, FEIGHT R PRESTON had sold 56,059 shares from its account. In a trade valued at $4,824,998, the CHIEF EXECUTIVE OFFICER traded PACCAR Inc shares for $86.07 each. Upon closing the transaction, the insider’s holdings decreased to 56,059 shares, worth approximately $10.54 million.

As published in a research note from Jefferies on July 17, 2023, PACCAR Inc [PCAR] has been rated up from a Hold to a Buy and the price target has been revised to $115 from $85. This represents a 28.44% premium over Thursday’s closing price.

Analyzing PCAR Stock Performance

On Thursday, PACCAR Inc [NASDAQ: PCAR] plunged -0.52% to $82.29. The stock’s lowest price that day was $82.18, but it reached a high of $83.60 in the same session. During the last five days, there has been a drop of approximately -2.30%. Over the course of the year, PACCAR Inc shares have jumped approximately 24.72%. Shares of the company reached a 52-week high of $90.05 on 07/20/23 and a 52-week low of $64.64 on 01/05/23. A 50-day SMA is recorded $84.60, while a 200-day SMA reached $74.72. Nevertheless, trading volume fell to 3.13 million shares from 4.01 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 81.78, which, if violated, would cause prices to drop to 81.27. In the upper region, resistance lies at 83.20. The next price resistance is at 84.11. RSI (Relative Strength Index) is 38.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.75, which suggests the price will decrease in the coming days. Percent R is at 82.03%, 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 Aug 14, 2023 dropping by -1.7 million shares to 6.81 million. Data from Yahoo Finance shows that the short interest on Jul 13, 2023 was 8.51 million shares. A decline of -24.96% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.39 of the overall float, the days-to-cover ratio (short ratio) decline to 2.39.

Which companies own the most shares of PACCAR Inc (PCAR)?

According to The Vanguard Group, Inc. filings, the company currently owns 60,480,620 shares, which is about 11.57% of the total PCAR shares outstanding. The investor’s shares have appreciated by 766,953 from its previous 13-F filing of 59713667.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,152,291,459. SSgA Funds Management, Inc. reduced a -0.20% interest valued at $1.83 billion while Geode Capital Management LLC purchased a 364,109 stake. A total of 149,070 shares of PACCAR Inc were bought by Fidelity Management & Research Co during the quarter, and -669,442 were sold by Bank of America, NA. In its current portfolio, Massachusetts Financial Services holds 8,563,711 shares valued at $737.59 million.


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