PACCAR Inc. Announces Quarterly Dividend of $0.35 (NASDAQ:PCAR)

PACCAR Inc. (NASDAQ:PCAR) declared a quarterly dividend on Thursday, September 17th. Investors of record on Wednesday, November 11th will be given a dividend of 0.35 per share on Wednesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 10th.

PACCAR has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. PACCAR has a dividend payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect PACCAR to earn $7.23 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 19.4%.

PACCAR Trading Up 0.1%

Shares of PCAR opened at $117.51 on Friday. The company has a market capitalization of $61.85 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.35 and a beta of 0.96. PACCAR has a one year low of $92.25 and a one year high of $139.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The stock has a 50-day moving average price of $127.76 and a 200 day moving average price of $121.51.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.PACCAR’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS. Sell-side analysts forecast that PACCAR will post 5.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PCAR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Wells Fargo & Company upped their target price on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Citigroup increased their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $133.91.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.