Caterpillar, Inc. (NYSE:CAT) declared a quarterly dividend on Wednesday, October 11th, RTT News reports. Stockholders of record on Monday, October 23rd will be paid a dividend of 0.78 per share by the industrial products company on Monday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, October 20th.
Caterpillar has raised its dividend payment by an average of 21.4% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Caterpillar has a payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Caterpillar to earn $7.52 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 41.5%.
Caterpillar (CAT) traded up 0.64% on Friday, reaching $137.81. The company’s stock had a trading volume of 4,064,593 shares. The firm’s 50-day moving average price is $126.04 and its 200 day moving average price is $111.66. The company has a market cap of $81.44 billion, a P/E ratio of 769.89 and a beta of 1.26. Caterpillar has a 52-week low of $80.33 and a 52-week high of $140.44.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. Equities analysts anticipate that Caterpillar will post $6.38 EPS for the current fiscal year.
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In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.
Several analysts have recently issued reports on the stock. BMO Capital Markets restated a “buy” rating and set a $130.00 target price on shares of Caterpillar in a research report on Friday, September 8th. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price on the stock. in a research report on Monday, September 11th. Jefferies Group LLC restated a “hold” rating and set a $100.00 target price on shares of Caterpillar in a research report on Tuesday, August 29th. Credit Suisse Group restated a “hold” rating and set a $133.00 target price on shares of Caterpillar in a research report on Friday, September 22nd. Finally, Goldman Sachs Group, Inc. (The) upped their target price on shares of Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $133.70.
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