PACCAR Inc Announces Quarterly Dividend of $0.34 (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCARGet Rating) declared a quarterly dividend on Tuesday, April 26th, RTT News reports. Shareholders of record on Wednesday, May 11th will be given a dividend of 0.34 per share on Wednesday, June 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.62%.

PACCAR has decreased its dividend payment by an average of 3.3% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. PACCAR has a dividend payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PACCAR to earn $7.86 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 17.3%.

PCAR traded down $2.53 during midday trading on Tuesday, reaching $83.82. The company’s stock had a trading volume of 2,954,909 shares, compared to its average volume of 1,892,133. The firm has a market capitalization of $29.14 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.30 and a beta of 0.91. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.62. PACCAR has a 1 year low of $77.96 and a 1 year high of $97.56. The stock’s 50-day moving average is $87.85 and its 200-day moving average is $88.89.

PACCAR (NASDAQ:PCARGet Rating) last issued its earnings results on Tuesday, April 26th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $5.86 billion. PACCAR had a net margin of 7.87% and a return on equity of 16.58%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. As a group, equities research analysts forecast that PACCAR will post 6.78 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. Citigroup cut shares of PACCAR from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research note on Tuesday, April 12th. Raymond James lifted their price objective on shares of PACCAR from $105.00 to $108.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 26th. UBS Group raised their target price on shares of PACCAR from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, January 26th. JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $114.00 to $108.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. Finally, Morgan Stanley cut their price objective on shares of PACCAR from $98.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, April 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $99.21.

In other news, CEO R Preston Feight sold 18,750 shares of PACCAR stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $94.62, for a total transaction of $1,774,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alison J. Carnwath sold 29,233 shares of PACCAR stock in a transaction on Friday, January 28th. The stock was sold at an average price of $92.13, for a total value of $2,693,236.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,930 shares of company stock worth $6,647,589. Insiders own 2.05% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of PCAR. Penserra Capital Management LLC lifted its position in PACCAR by 23.5% during the 4th quarter. Penserra Capital Management LLC now owns 1,528 shares of the company’s stock worth $134,000 after acquiring an additional 291 shares in the last quarter. Toroso Investments LLC grew its stake in PACCAR by 18.1% during the 4th quarter. Toroso Investments LLC now owns 3,335 shares of the company’s stock worth $294,000 after buying an additional 511 shares during the last quarter. EP Wealth Advisors LLC grew its stake in PACCAR by 34.7% during the 4th quarter. EP Wealth Advisors LLC now owns 3,988 shares of the company’s stock worth $352,000 after buying an additional 1,027 shares during the last quarter. Allstate Corp grew its stake in shares of PACCAR by 14.5% in the fourth quarter. Allstate Corp now owns 8,157 shares of the company’s stock worth $720,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of PACCAR by 310.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,508 shares of the company’s stock worth $221,000 after purchasing an additional 1,897 shares in the last quarter. Institutional investors own 63.30% of the company’s stock.

PACCAR Company Profile (Get Rating)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

See Also

Dividend History for PACCAR (NASDAQ:PCAR)

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