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

PACCAR Inc (NASDAQ:PCARGet Free Report) declared a quarterly dividend on Tuesday, July 9th, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.30 per share on Thursday, September 5th. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, August 15th.

PACCAR has raised its dividend by an average of 6.8% annually over the last three years. PACCAR has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PACCAR to earn $8.89 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 13.5%.

PACCAR Trading Up 0.1 %

PACCAR stock opened at $101.34 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The business’s 50-day simple moving average is $106.11 and its 200-day simple moving average is $108.01. The firm has a market capitalization of $53.12 billion, a PE ratio of 10.51, a PEG ratio of 1.21 and a beta of 0.92. PACCAR has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 earnings per share. Equities research analysts forecast that PACCAR will post 8.37 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on PCAR. Citigroup initiated coverage on PACCAR in a report on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 target price on the stock. The Goldman Sachs Group upped their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Monday. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.92.

Read Our Latest Stock Analysis on PACCAR

Insider Buying and Selling

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is owned by company insiders.

PACCAR Company Profile

(Get Free Report)

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.

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Dividend History for PACCAR (NASDAQ:PCAR)

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