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

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) announced a quarterly dividend on Tuesday, July 8th, RTT News reports. Shareholders of record on Thursday, August 14th will be paid a dividend of 0.33 per share on Thursday, September 4th. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, August 14th.

PACCAR has a dividend payout ratio of 19.5% meaning 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 Stock Down 2.1%

PCAR traded down $2.10 on Friday, hitting $97.12. The company had a trading volume of 1,630,638 shares, compared to its average volume of 2,723,805. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. PACCAR has a 52-week low of $84.65 and a 52-week high of $118.81. The stock has a fifty day simple moving average of $94.07 and a 200-day simple moving average of $98.97. The firm has a market capitalization of $50.99 billion, a P/E ratio of 14.74, a P/E/G ratio of 3.65 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCAR. Evercore ISI decreased their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Royal Bank Of Canada decreased their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research note on Wednesday, April 16th. Truist Financial decreased their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup raised their target price on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $104.59.

Insider Activity

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director directly owned 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PACCAR

A hedge fund recently raised its stake in PACCAR stock. Brighton Jones LLC grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,001 shares of the company's stock after acquiring an additional 290 shares during the period. Brighton Jones LLC's holdings in PACCAR were worth $9,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 64.90% of the stock is currently owned by hedge funds and other institutional investors.

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.