PACCAR Inc (PCAR) to Issue Quarterly Dividend of $0.30 on September 5th

PACCAR Inc (NASDAQ:PCAR) declared a quarterly dividend on Tuesday, July 9th, Zacks reports. Stockholders 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 annualized dividend 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 dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.2 %

PCAR stock opened at $101.50 on Thursday. 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 company has a market capitalization of $53.20 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.21 and a beta of 0.92. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The stock has a fifty day moving average of $106.02 and a 200-day moving average of $107.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 EPS. As a group, equities research analysts predict that PACCAR will post 8.37 earnings per share for the current year.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at $16,397,377.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the subject of several research reports. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Citigroup began coverage on PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 target price for the company. Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $113.92.

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.