PACCAR Inc (NASDAQ:PCAR) declared a dividend on Tuesday, December 4th, Fidelity reports. Shareholders of record on Friday, December 14th will be given a dividend of 2.00 per share on Friday, January 4th. The ex-dividend date is Thursday, December 13th.
PACCAR has raised its dividend by an average of 4.8% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. PACCAR has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PACCAR to earn $6.24 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 17.9%.
PACCAR stock traded down $1.49 during trading hours on Friday, hitting $57.09. 2,223,975 shares of the company traded hands, compared to its average volume of 1,848,127. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.88 and a beta of 1.41. The company has a current ratio of 2.63, a quick ratio of 2.44 and a debt-to-equity ratio of 0.72. PACCAR has a 1-year low of $53.95 and a 1-year high of $79.69.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 23rd. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.04. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.50 billion. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. Research analysts expect that PACCAR will post 6.16 earnings per share for the current fiscal year.
In other PACCAR news, VP David J. Danforth sold 651 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the transaction, the vice president now directly owns 5,453 shares in the company, valued at $324,126.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark C. Pigott sold 194,004 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $58.84, for a total transaction of $11,415,195.36. Following the completion of the transaction, the insider now owns 3,080,449 shares of the company’s stock, valued at $181,253,619.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,262 shares of company stock valued at $11,490,110. Corporate insiders own 2.64% of the company’s stock.
PACCAR declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 4th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, December 3rd. Loop Capital assumed coverage on shares of PACCAR in a research note on Wednesday, October 17th. They issued a “hold” rating and a $68.00 price objective on the stock. BidaskClub cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Morgan Stanley set a $58.00 price objective on shares of PACCAR and gave the stock a “sell” rating in a research note on Wednesday, October 24th. Finally, Piper Jaffray Companies raised shares of PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research note on Wednesday, October 24th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the stock. PACCAR currently has an average rating of “Hold” and a consensus price target of $69.02.
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PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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