PACCAR Inc (NASDAQ:PCAR – Get Free Report) announced a quarterly dividend on Tuesday, December 5th, RTT News reports. Stockholders of record on Wednesday, February 15th will be given a dividend of 0.27 per share on Wednesday, March 6th. This represents a $1.08 annualized dividend and a dividend yield of 1.15%.

PACCAR has raised its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. PACCAR has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect PACCAR to earn $7.39 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 14.6%.

PACCAR Price Performance

PCAR traded up $0.29 during trading on Tuesday, hitting $94.01. 962,279 shares of the company traded hands, compared to its average volume of 2,679,337. The company has a market cap of $49.17 billion, a PE ratio of 12.02, a P/E/G ratio of 1.04 and a beta of 0.90. PACCAR has a 1 year low of $64.33 and a 1 year high of $94.69. The company has a current ratio of 2.61, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $87.01 and its two-hundred day simple moving average is $83.71.

PACCAR (NASDAQ:PCAR – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.27. PACCAR had a net margin of 12.01% and a return on equity of 31.31%. The business had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.19 billion. During the same period last year, the company posted $1.47 EPS. The business’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts anticipate that PACCAR will post 8.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup increased their price target on PACCAR from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. JPMorgan Chase & Co. lifted their price target on PACCAR from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft upgraded PACCAR from a “hold” rating to a “buy” rating and lifted their target price for the company from $94.00 to $115.00 in a research note on Wednesday, October 25th. Finally, StockNews.com began coverage on shares of PACCAR in a research report on Thursday, October 5th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $86.52.

Read Our Latest Analysis on PACCAR

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 23,221 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $86.28, for a total value of $2,003,507.88. Following the transaction, the chief financial officer now directly owns 93,522 shares in the company, valued at $8,069,078.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Harrie Schippers sold 23,221 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $86.28, for a total value of $2,003,507.88. Following the sale, the chief financial officer now directly owns 93,522 shares in the company, valued at approximately $8,069,078.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,004 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $83.42, for a total value of $250,593.68. Following the transaction, the vice president now directly owns 3,230 shares in the company, valued at approximately $269,446.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,221 shares of company stock worth $2,426,915. Insiders own 2.06% of the company’s stock.

Institutional Trading of PACCAR

A number of large investors have recently made changes to their positions in the company. Money Concepts Capital Corp increased its holdings in shares of PACCAR by 9.8% in the 4th quarter. Money Concepts Capital Corp now owns 1,531 shares of the company’s stock valued at $152,000 after acquiring an additional 137 shares during the last quarter. Penserra Capital Management LLC raised its holdings in PACCAR by 8.2% during the first quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock worth $145,000 after purchasing an additional 125 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of PACCAR by 114.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,854 shares of the company’s stock worth $136,000 after buying an additional 990 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of PACCAR by 33.0% in the 1st quarter. First Horizon Advisors Inc. now owns 1,852 shares of the company’s stock valued at $136,000 after buying an additional 459 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new position in shares of PACCAR in the 1st quarter valued at $93,000. 65.68% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Company Profile (Get Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

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Original: MarketBeat News Feed: PACCAR Inc (NASDAQ:PCAR) Announces $0.27 Quarterly Dividend