PACCAR Inc (NASDAQ:PCAR) Declares Dividend Increase – $3.00 Per Share

PACCAR Inc (NASDAQ:PCAR) announced a dividend on Thursday, December 12th,NASDAQ Dividends reports. Investors of record on Friday, December 20th will be given a dividend of 3.00 per share on Wednesday, January 8th. The ex-dividend date of this dividend is Friday, December 20th. This is a boost 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 15.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect PACCAR to earn $7.77 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 15.4%.

PACCAR Price Performance

PACCAR stock opened at $112.80 on Friday. The company has a market cap of $59.14 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.82 and a beta of 0.91. The firm’s fifty day moving average is $110.76 and its 200 day moving average is $103.89. 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 has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts forecast that PACCAR will post 7.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 in the last three months. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial increased their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Finally, Citigroup upped their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $118.25.

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.