PACCAR jumps as strong Class 8 order data lifts truck outlook

PACCAR Inc. (PCAR) is up 5.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver appears to be improving sentiment around the heavy-duty truck cycle rather than a fresh company-specific filing or press release today. Strong June Class 8 order data, combined with PACCAR’s earlier comments about rising backlog and higher second-quarter production, likely reinforced the view that demand is strengthening and that earnings expectations could improve.

Details:

In late April, PACCAR said its production backlog was increasing because of stronger demand, signaling healthier near-term truck market conditions.

Management also indicated North American Class 8 sales and production were expected to rise sequentially in the second quarter, pointing to better factory throughput and deliveries.

Industry data released today showed June Class 8 orders climbed to roughly 30,500 to 31,400 units, a surge of more than 230% from a year earlier, which supports a more constructive outlook for truck makers.

An analyst price-target increase to $131 on July 2, while maintaining a hold rating, may have added support by showing a somewhat better valuation view heading into earnings season.

Sources:

PACCAR Investor Relations, Trucks, Parts, Service, Benzinga

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PCAR Insider Trading Activity

$PCAR insiders have traded $PCAR stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.

Here’s a breakdown of recent trading of $PCAR stock by insiders over the last 6 months:

C MICHAEL DOZIER (EXECUTIVE VICE PRESIDENT) sold 79,076 shares for an estimated $10,115,314
R PRESTON FEIGHT (CHIEF EXECUTIVE OFFICER) has made 0 purchases and 4 sales selling 37,032 shares for an estimated $4,658,401.
LAURA J BLOCH (Senior Vice President) has made 0 purchases and 2 sales selling 15,420 shares for an estimated $1,924,712.
PAULO HENRIQUE BOLGAR (Vice President) sold 12,183 shares for an estimated $1,491,524
KEVIN D BANEY (Executive Vice President) sold 9,672 shares for an estimated $1,223,802
CRAIG R GRYNIEWICZ (Vice President) sold 8,748 shares for an estimated $1,128,492
BRICE J POPLAWSKI (Sr. Vice President & CFO) has made 0 purchases and 2 sales selling 4,400 shares for an estimated $559,680.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$PCAR Hedge Fund Activity

We have seen 464 institutional investors add shares of $PCAR stock to their portfolio, and 417 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC added 6,443,656 shares (+71.7%) to their portfolio in Q1 2026, for an estimated $744,242,268
CAPITAL RESEARCH GLOBAL INVESTORS removed 5,712,809 shares (-95.0%) from their portfolio in Q1 2026, for an estimated $659,829,439
CLEARSTEAD ADVISORS, LLC added 4,867,375 shares (+49410.0%) to their portfolio in Q1 2026, for an estimated $562,181,812
WELLINGTON MANAGEMENT GROUP LLP removed 4,478,279 shares (-19.5%) from their portfolio in Q1 2026, for an estimated $517,241,224
UBS GROUP AG removed 1,911,423 shares (-42.0%) from their portfolio in Q1 2026, for an estimated $220,769,356
NORTHERN TRUST CORP added 1,818,934 shares (+35.7%) to their portfolio in Q1 2026, for an estimated $210,086,877
MILLENNIUM MANAGEMENT LLC added 1,561,151 shares (+676.5%) to their portfolio in Q1 2026, for an estimated $180,312,940

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PCAR Price Targets

Multiple analysts have issued price targets for $PCAR recently. We have seen 7 analysts offer price targets for $PCAR in the last 6 months, with a median target of $125.0.

Here are some recent targets:

Jamie Cook from Truist Securities set a target price of $131.0 on 07/02/2026
Kyle Menges from Citigroup set a target price of $125.0 on 04/30/2026
Jerry Revich from Wells Fargo set a target price of $125.0 on 04/29/2026
Tami Zakaria from JP Morgan set a target price of $140.0 on 04/29/2026
Sergey Glinyanov from Freedom Broker set a target price of $90.0 on 03/26/2026
David Raso from Evercore ISI Group set a target price of $143.0 on 02/23/2026
Angel Castillo from Morgan Stanley set a target price of $109.0 on 02/03/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.