Caterpillar Inc. (NYSE:CAT) declared a quarterly dividend on Wednesday, October 9th, RTT News reports. Investors of record on Monday, October 21st will be given a dividend of 1.03 per share by the industrial products company on Wednesday, November 20th. This represents a $4.12 annualized dividend and a dividend yield of 3.48%.
Caterpillar has increased its dividend by an average of 3.7% annually over the last three years and has raised its dividend every year for the last 9 years. Caterpillar has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Caterpillar to earn $12.00 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 34.3%.
Shares of CAT traded up $0.47 during mid-day trading on Wednesday, hitting $118.44. 586,129 shares of the company were exchanged, compared to its average volume of 4,280,375. Caterpillar has a 1-year low of $111.75 and a 1-year high of $152.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. The company has a 50 day moving average of $123.08 and a 200-day moving average of $129.32. The stock has a market cap of $68.10 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52.
Several research analysts recently weighed in on CAT shares. Citigroup reduced their price target on shares of Caterpillar from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Macquarie set a $115.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a research report on Tuesday, June 11th. Goldman Sachs Group downgraded shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $156.00 to $130.00 in a research report on Wednesday, August 7th. Stephens started coverage on shares of Caterpillar in a research report on Wednesday, August 14th. They set an “underweight” rating and a $100.00 price target for the company. Finally, Robert W. Baird reduced their price target on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. Caterpillar has an average rating of “Hold” and a consensus target price of $138.37.
In other news, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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