PACCAR Inc (PCAR) to Distribute Quarterly Dividend of $0.30 on June 5th

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

PACCAR has increased its dividend payment by an average of 6.8% per year over the last three years and has increased its dividend every year for the last 3 years. PACCAR has a payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.2 %

NASDAQ PCAR opened at $106.34 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. PACCAR has a one year low of $68.40 and a one year high of $125.50. The company has a 50-day simple moving average of $116.62 and a 200-day simple moving average of $102.36. The firm has a market capitalization of $55.72 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the business earned $2.25 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that PACCAR will post 8.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCAR. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and increased their target price for the company from $84.00 to $97.00 in a research report on Friday, January 19th. TD Cowen lifted their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Morgan Stanley initiated coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Truist Financial started coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target on the stock. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.31.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a 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 company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,117 shares of company stock worth $6,510,010. 2.02% of the stock is owned by insiders.

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.