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

PACCAR Inc (NASDAQ:PCAR) announced a quarterly dividend on Monday, November 11th,RTT News reports. Investors of record on Wednesday, November 13th will be given a dividend of 0.30 per share on Wednesday, December 4th. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th.

PACCAR has raised its dividend payment by an average of 6.8% annually over the last three years. PACCAR has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect PACCAR to earn $7.76 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 15.5%.

PACCAR Stock Up 1.8 %

PACCAR stock opened at $116.43 on Tuesday. The firm has a market cap of $61.04 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89. PACCAR has a 52 week low of $87.58 and a 52 week high of $125.50. The business’s 50-day moving average price is $102.34 and its 200 day moving average price is $102.61. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. As a group, sell-side analysts anticipate that PACCAR will post 7.98 earnings per share for the current year.

Wall Street Analyst Weigh In

PCAR has been the topic of several research analyst reports. Truist Financial raised their price objective on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $113.82.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by corporate 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.