PACCAR Inc Plans Dividend of $2.00 (PCAR)
PACCAR Inc (NASDAQ:PCAR) declared a dividend on Tuesday, December 4th, Fidelity reports. Shareholders of record on Friday, December 14th will be paid a dividend of 2.00 per share on Friday, January 4th. The ex-dividend date is Thursday, December 13th.
PACCAR has increased its dividend by an average of 4.8% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. PACCAR has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PACCAR to earn $6.24 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 17.9%.
PCAR traded down $1.49 during trading on Friday, hitting $57.09. The stock had a trading volume of 2,223,975 shares, compared to its average volume of 1,848,127. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.44 and a current ratio of 2.63. The stock has a market capitalization of $20.53 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.88 and a beta of 1.41. PACCAR has a twelve month low of $53.95 and a twelve month high of $79.69.
In other PACCAR news, VP David J. Danforth sold 651 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $59.44, for a total value of $38,695.44. Following the sale, the vice president now directly owns 5,453 shares in the company, valued at $324,126.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark C. Pigott sold 194,004 shares of the firm’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total value of $11,415,195.36. Following the completion of the sale, the insider now owns 3,080,449 shares in the company, valued at $181,253,619.16. The disclosure for this sale can be found here. Insiders have sold 195,262 shares of company stock worth $11,490,110 over the last 90 days. 2.64% of the stock is currently owned by company insiders.
Several equities analysts have issued reports on PCAR shares. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Credit Suisse Group reduced their target price on PACCAR from $69.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Argus cut PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $69.02.
PACCAR declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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