PACCAR Inc (PCAR) to Issue Quarterly Dividend of $0.30 on December 4th

PACCAR Inc (NASDAQ:PCAR) declared a quarterly dividend on Tuesday, September 10th, RTT News reports. Stockholders of record on Wednesday, November 13th will be given a dividend of 0.30 per share on Wednesday, December 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, November 13th.

PACCAR has increased its dividend by an average of 6.8% per year over the last three years. PACCAR has a dividend payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect PACCAR to earn $8.42 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 14.3%.

PACCAR Price Performance

PACCAR stock opened at $94.25 on Thursday. PACCAR has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $97.64 and its 200 day moving average is $106.90. The company has a market cap of $49.40 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 1.44 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. Sell-side analysts forecast that PACCAR will post 8.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup dropped their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Evercore ISI reduced their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $112.73.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.