PCAR Stock Plummets – What's Behind the Drop?

PACCAR Inc stock is trading -11.38% below its average target price of $120.58 after dropping -2.1% during today's afternoon session. Analysts are giving the Large-Cap Auto Manufacturers company an average rating of hold and target prices ranging from $97.22 to $147.0 per share.

The stock has an average amount of shares sold short at 2.1%, and a short ratio of 3.61. The company's insiders own 1.86% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 68.7% of PACCAR Inc's shares being owned by this investor type.

Institutions Invested in PACCAR Inc

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 12% 61,680,353 $6,591,162,559
2024-03-31 Blackrock Inc. 7% 37,618,269 $4,019,888,248
2023-12-31 State Street Corporation 4% 21,639,073 $2,312,351,353
2023-12-31 Geode Capital Management, LLC 2% 12,625,245 $1,349,133,688
2023-12-31 FMR, LLC 2% 12,084,007 $1,291,296,995
2023-12-31 Bank of America Corporation 2% 11,055,596 $1,181,400,995
2023-12-31 Massachusetts Financial Services Co. 1% 7,813,702 $834,972,200
2023-12-31 Morgan Stanley 1% 6,461,963 $690,525,370
2023-12-31 Northern Trust Corporation 1% 5,304,143 $566,800,724
2024-03-31 Dimensional Fund Advisors LP 1% 5,244,320 $560,408,038

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on PACCAR Inc.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.