PACCAR Inc’s recently made public that its CHIEF EXECUTIVE OFFICER FEIGHT R PRESTON unloaded Company’s shares for reported $4.81 million on Aug 02. In the deal valued at $85.96 per share,56,000 shares were sold. As a result of this transaction, FEIGHT R PRESTON now holds 128,105 shares worth roughly $ 10.46 million.
Then, SCHIPPERS HARRIE sold 24,000 shares, generating $2,065,757 in total proceeds. Upon selling the shares at $86.07, the PRESIDENT & CFO now owns 93,522 shares.
Before that, FEIGHT R PRESTON sold 56,059 shares. PACCAR Inc shares valued at $4,824,998 were divested by the CHIEF EXECUTIVE OFFICER at a price of $86.07 per share. As a result of the transaction, FEIGHT R PRESTON now holds 128,105 shares, worth roughly $10.46 million.
Jefferies upgraded its PACCAR Inc [PCAR] rating to a Buy from a a Hold in a research note published on Tuesday, July 17, 2023; the price target was increased to $115 from $85. PT values the company’s stock at a premium of 28.99 to its Tuesday closing price.
Price Performance Review of PCAR
On Tuesday, PACCAR Inc [NASDAQ:PCAR] saw its stock fall -2.23% to $81.66. On the same session, the stock had its day’s lowest price of $81.58, but rose to a high of $83.915. Over the last five days, the stock has lost -4.13%. PACCAR Inc shares have risen nearly 23.76% since the year began. Nevertheless, the stocks have risen 43.96% over the past one year. While a 52-week high of $90.05 was reached on 07/20/23, a 52-week low of $53.15 was recorded on 01/05/23. SMA at 50 days reached $84.77, while 200 days put it at $74.86. A total of 2.62 million shares were traded, compared to the trading of 2.32 million shares in the previous session.
Levels Of Support And Resistance For PCAR Stock
The 24-hour chart illustrates a support level at 80.86, which if violated will result in even more drops to 80.05. On the upside, there is a resistance level at 83.19. A further resistance level may holdings at 84.72. The Relative Strength Index (RSI) on the 14-day chart is 38.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.61%. Stochastics %K at 31.58% indicates the stock is a holding.
How much short interest is there in PACCAR Inc?
A steep rise in short interest was recorded in PACCAR Inc stocks on Aug 14, 2023, dropping by -1.7 million shares to a total of 6.81 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 8.51 million shares. There was a decline of -24.96%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.49% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.39.
PACCAR Inc [PCAR] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 60,480,620 shares, or roughly 11.57% of the outstanding PCAR shares. In other words, the investor’s shares have risen by 766,953 from its previous 13-F filing of 59713667.0. Additionally, BlackRock Fund Advisors decreased -1.34% of its stake after which the total value it holdings stand at $2,152,291,459, while SSgA Funds Management, Inc. reduced -0.20% of its stake to hold $1.83 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 364,109 shares of PACCAR Inc, while Fidelity Management & Research Co bought 149,070 shares. At present, Bank of America, NA is holding 9,585,490 shares valued at $825.6 million. Massachusetts Financial Services owned 8,563,711 shares of the company at the time of its most recent 13F filing, worth $737.59 million.
According to FactSet, PACCAR Inc’s share price will average $90.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 7.76 percent from its previous closing price of $83.52. Analysts expect PACCAR Inc stock to reach the higher price of $115.00, while the lowest price estimate is $78.00. However, 20 analysts have rated PCAR stock as a Hold in their predictions for 2023.