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

PACCAR Inc (NASDAQ:PCAR) announced a quarterly dividend on Tuesday, April 30th, RTT News reports. Investors 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 annualized dividend and a dividend yield of 1.13%. This is a boost from PACCAR’s previous quarterly dividend of $0.27.

PACCAR has increased its dividend by an average of 6.8% per year over the last three years. PACCAR has a dividend payout ratio of 12.4% indicating that 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 Price Performance

Shares of PCAR stock opened at $106.11 on Wednesday. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR has a twelve month low of $68.40 and a twelve month high of $125.50. The company has a market cap of $55.60 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.71 and a beta of 0.92. The business has a fifty day simple moving average of $116.67 and a 200 day simple moving average of $102.33.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR will post 8.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’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 transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’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 transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the firm’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 sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The disclosure for this sale can be found here. Insiders sold 66,946 shares of company stock valued at $7,003,148 over the last 90 days. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent research reports. 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. The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Evercore ISI upped their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and increased their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $113.08.

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.