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

PACCAR Inc. (NASDAQ:PCAR) declared a quarterly dividend on Thursday, September 17th. Shareholders of record on Wednesday, November 11th will be paid a dividend of 0.35 per share on Wednesday, December 2nd. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, November 10th.

PACCAR has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. PACCAR has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PACCAR to earn $7.23 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 19.4%.

PACCAR Stock Down 0.7%

Shares of PACCAR stock opened at $117.36 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a market cap of $61.77 billion, a P/E ratio of 24.66, a PEG ratio of 1.35 and a beta of 0.96. The company’s fifty day simple moving average is $127.76 and its two-hundred day simple moving average is $121.51.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $1.37 EPS. Research analysts anticipate that PACCAR will post 5.91 EPS for the current year.

Insider Buying and Selling at PACCAR

In related news, CEO R Feight sold 50,975 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 56,842 shares of company stock valued at $7,565,677. Insiders own 1.99% of the company’s stock.

Institutional Trading of PACCAR

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ancora Advisors LLC purchased a new position in PACCAR in the 2nd quarter worth approximately $16,286,000. Nomura Asset Management Co. Ltd. boosted its stake in PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after purchasing an additional 9,524 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of PACCAR in the first quarter worth $9,273,000. Finally, Mengis Capital Management Inc. lifted its holdings in shares of PACCAR by 16.1% during the fourth quarter. Mengis Capital Management Inc. now owns 111,486 shares of the company’s stock valued at $12,209,000 after purchasing an additional 15,440 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.