PACCAR Inc (NASDAQ:PCAR) Announces Dividend Increase – $0.30 Per Share

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 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 payment by an average of 6.8% annually over the last three years and has raised its dividend annually for the last 3 consecutive 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

NASDAQ PCAR opened at $106.34 on Thursday. The business’s fifty day moving average is $116.62 and its 200 day moving average is $102.36. PACCAR has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. The company 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 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. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. During the same period in the previous year, the firm earned $2.25 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that PACCAR will post 8.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PCAR. TD Cowen lifted their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. The Goldman Sachs Group boosted their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada initiated coverage on shares of PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. Finally, Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,117 shares of company stock valued at $6,510,010. Insiders own 2.02% of the company’s stock.

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.