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

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 paid 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 1.32%. The ex-dividend date is Thursday, August 14th.

PACCAR has a payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. 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 stock traded up $1.63 during mid-day trading on Thursday, reaching $100.30. The company's stock had a trading volume of 285,960 shares, compared to its average volume of 2,715,514. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a market cap of $52.66 billion, a P/E ratio of 15.21, a PEG ratio of 3.65 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. The firm's 50-day moving average is $93.88 and its two-hundred day moving average is $99.01.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the prior year, the company posted $2.27 EPS. The company's quarterly revenue was down 16.0% compared to the same quarter last year. On average, research analysts predict that PACCAR will post 7.57 earnings per share for the current year.

Insider Activity

In other news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director directly owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.02% of the company's stock.

Institutional Trading of PACCAR

A hedge fund recently raised its stake in PACCAR stock. Focus Partners Wealth lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,604 shares of the company's stock after acquiring an additional 1,812 shares during the quarter. Focus Partners Wealth's holdings in PACCAR were worth $1,324,000 at the end of the most recent reporting period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Royal Bank Of Canada dropped 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 report on Thursday, May 8th. Citigroup increased their target price on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Finally, Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of "Hold" and an average target price of $104.59.

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.