PACCAR Inc Announces Quarterly Dividend of $0.30 (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCARGet Free Report) declared a quarterly dividend on Tuesday, July 9th, Zacks reports. Investors of record on Thursday, August 15th will be given a dividend of 0.30 per share on Thursday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, August 15th.

PACCAR has raised its dividend payment by an average of 6.8% annually over the last three years. PACCAR has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PACCAR to earn $8.89 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 13.5%.

PACCAR Trading Up 0.1 %

NASDAQ:PCAR opened at $101.34 on Wednesday. The firm has a market cap of $53.12 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm has a 50-day moving average price of $106.11 and a two-hundred day moving average price of $108.01. PACCAR has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 EPS. On average, equities analysts expect that PACCAR will post 8.37 earnings per share for the current fiscal year.

Insider Transactions at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PCAR shares. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Monday. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. cut their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.92.

View Our Latest Stock Analysis on PCAR

PACCAR Company Profile

(Get Free Report)

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.

See Also

Dividend History for PACCAR (NASDAQ:PCAR)

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