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. Investors of record on Wednesday, May 15th will be given a dividend of 0.30 per share on Wednesday, June 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. This is a boost from PACCAR’s previous quarterly dividend of $0.27.

PACCAR has increased its dividend payment by an average of 6.8% annually over the last three years. PACCAR has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. 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

NASDAQ:PCAR traded down $7.53 during midday trading on Tuesday, reaching $106.11. The stock had a trading volume of 7,370,121 shares, compared to its average volume of 2,411,904. The firm has a fifty day simple moving average of $116.69 and a two-hundred day simple moving average of $102.18. PACCAR has a 12-month low of $68.40 and a 12-month high of $125.50. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The stock has a market cap of $55.60 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.68 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the firm posted $2.25 EPS. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that PACCAR will post 8.21 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on PCAR shares. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price for the company. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.08.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 4,829 shares of the business’s 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 completion of the sale, the vice president now owns 5,726 shares in the company, valued at approximately $584,739.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,946 shares of company stock worth $7,003,148. 2.02% of the stock is currently owned by company 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.