PACCAR Inc (PCAR) to Issue Dividend of $3.00 on January 8th

PACCAR Inc (NASDAQ:PCAR) announced a dividend on Tuesday, December 17th,NASDAQ Dividends reports. Stockholders of record on Friday, December 20th will be paid a dividend of 3.00 per share on Wednesday, January 8th. The ex-dividend date is Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89.

PACCAR has increased its dividend by an average of 6.8% per year over the last three years. PACCAR has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect PACCAR to earn $7.77 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 17.0%.

PACCAR Price Performance

PCAR stock opened at $111.66 on Wednesday. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a 50-day moving average price of $111.31 and a 200 day moving average price of $103.95. The stock has a market cap of $58.54 billion, a PE ratio of 12.48, a P/E/G ratio of 1.77 and a beta of 0.91. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

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

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCAR. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Morgan Stanley reduced their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $118.25.

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.