PACCAR Inc. (NASDAQ:PCAR) Plans Quarterly Dividend of $0.33

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) declared a quarterly dividend on Tuesday, July 8th, RTT News reports. Stockholders of record on Thursday, August 14th will be given a dividend of 0.33 per share on Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, August 14th.

PACCAR has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PACCAR to earn $9.14 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 14.4%.

PACCAR Price Performance

Shares of PCAR traded down $0.03 during mid-day trading on Wednesday, reaching $98.67. 2,096,931 shares of the stock traded hands, compared to its average volume of 2,721,811. The firm has a fifty day moving average price of $93.71 and a 200 day moving average price of $99.01. The company has a market cap of $51.80 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 3.57 and a beta of 0.94. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. As a group, equities research analysts predict that PACCAR will post 7.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PCAR. Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. Citigroup lifted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Truist Financial dropped their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Royal Bank Of Canada dropped their price objective on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, Evercore ISI dropped their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $104.59.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director directly owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

A hedge fund recently raised its stake in PACCAR stock. Brighton Jones LLC raised its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,001 shares of the company's stock after acquiring an additional 290 shares during the quarter. Brighton Jones LLC's holdings in PACCAR were worth $9,258,000 at the end of the most recent quarter. Institutional investors own 64.90% of the company's stock.

About PACCAR

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.