Caterpillar Inc. (NYSE:CAT) announced a quarterly dividend on Wednesday, December 13th, RTT News reports. Shareholders of record on Monday, January 22nd will be paid a dividend of 0.78 per share by the industrial products company on Tuesday, February 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, January 19th.
Caterpillar has raised its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 8 years. Caterpillar has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Caterpillar to earn $10.30 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 30.3%.
Shares of Caterpillar (NYSE:CAT) traded down $6.41 during midday trading on Monday, hitting $151.08. 11,298,947 shares of the company’s stock traded hands, compared to its average volume of 5,580,000. Caterpillar has a 52 week low of $90.34 and a 52 week high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. The stock has a market cap of $89,880.00, a price-to-earnings ratio of 119.90, a P/E/G ratio of 1.68 and a beta of 1.22.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. equities research analysts forecast that Caterpillar will post 9.05 earnings per share for the current year.
Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Caterpillar from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective for the company in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Wednesday, October 11th. Argus upped their price target on Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Bank of America restated a “buy” rating and issued a $189.00 price target (up previously from $158.00) on shares of Caterpillar in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $167.80.
In related news, CFO Bradley M. Halverson sold 17,210 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas A. Pellette sold 24,547 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,331 shares of company stock worth $22,107,578. Corporate insiders own 0.14% of the company’s stock.
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Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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