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

PACCAR Inc (NASDAQ:PCAR) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.30 per share on Wednesday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from PACCAR’s previous quarterly dividend of $0.27.

PACCAR has raised its dividend by an average of 6.8% per year over the last three years. PACCAR has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PACCAR to earn $9.03 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 12.0%.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $7.53 during trading hours on Tuesday, reaching $106.11. 7,370,121 shares of the stock were exchanged, compared to its average volume of 2,411,904. The firm has a market capitalization of $55.60 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. PACCAR has a 52 week low of $68.40 and a 52 week high of $125.50. The stock’s fifty day simple moving average is $116.69 and its 200 day simple moving average is $102.18.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share 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 analyst estimates of $8.25 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. During the same quarter last year, the company earned $2.25 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that PACCAR will post 8.21 EPS for the current year.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The disclosure for this sale can be found here. Insiders sold a total of 66,946 shares of company stock worth $7,003,148 over the last three months. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Morgan Stanley assumed coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective on the stock. Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Truist Financial assumed coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective on the stock. Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.08.

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.