PACCAR Inc to Issue Quarterly Dividend of $0.33 (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) declared a quarterly dividend on Sunday, May 11th, RTT News reports. Stockholders of record on Wednesday, May 14th will be given a dividend of 0.33 per share on Wednesday, June 4th. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, May 14th.

PACCAR has raised its dividend payment by an average of 9.4% annually over the last three years and has increased its dividend every year for the last 5 years. PACCAR has a dividend payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PACCAR to earn $9.14 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 14.4%.

PACCAR Trading Down 1.0%

NASDAQ:PCAR opened at $90.61 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $94.45 and a 200-day simple moving average of $104.20. The company has a market capitalization of $47.57 billion, a P/E ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96. PACCAR has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the company posted $2.27 EPS. PACCAR’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PCAR shares. Citigroup reduced their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. StockNews.com upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and dropped their target price for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.23.

Insider Buying and Selling at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

An institutional investor recently raised its position in PACCAR stock. Brighton Jones LLC boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,001 shares of the company’s stock after buying an additional 290 shares during the period. Brighton Jones LLC’s holdings in PACCAR were worth $9,258,000 at the end of the most recent quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

About PACCAR

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.