PACCAR Inc. (NASDAQ:PCAR) Declares Quarterly Dividend of $0.35

PACCAR Inc. (NASDAQ:PCAR) announced a quarterly dividend on Tuesday, July 14th. Stockholders of record on Wednesday, August 12th will be given a dividend of 0.35 per share on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th.

PACCAR has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 5 years. PACCAR has a dividend payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PACCAR to earn $6.56 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 21.3%.

PACCAR Stock Down 0.3%

Shares of PACCAR stock opened at $123.94 on Wednesday. The stock has a 50-day moving average price of $116.70 and a 200 day moving average price of $119.37. The company has a market cap of $65.23 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR has a 1 year low of $92.25 and a 1 year high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. As a group, analysts expect that PACCAR will post 5.58 EPS for the current fiscal year.

Analysts Set New Price Targets

PCAR has been the subject of several research reports. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Citigroup reiterated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Truist Financial lifted their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.82.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.