PACCAR Inc (NASDAQ:PCAR) Increases Dividend to $3.00 Per Share

PACCAR Inc (NASDAQ:PCAR) declared a dividend on Tuesday, December 17th,NASDAQ Dividends reports. Stockholders 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 positive change from PACCAR’s previous dividend of $0.89.

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

PACCAR Stock Down 0.6 %

Shares of NASDAQ:PCAR opened at $111.66 on Wednesday. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The company has a market cap of $58.54 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The firm has a 50 day simple moving average of $111.31 and a 200 day simple moving average of $103.95.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. The business 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%. PACCAR’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. As a group, research analysts expect that PACCAR will post 7.98 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PCAR. Truist Financial raised their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company 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.