Caterpillar Inc. (CAT) Plans $0.78 Quarterly Dividend
Caterpillar Inc. (NYSE:CAT) declared a quarterly dividend on Wednesday, December 13th, RTT News reports. Stockholders of record on Monday, January 22nd will be given 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 1.83%. The ex-dividend date of this dividend is Friday, January 19th.
Caterpillar has increased its dividend payment by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 8 years. Caterpillar has a dividend payout ratio of 48.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Caterpillar to earn $7.88 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 39.6%.
Caterpillar (NYSE:CAT) opened at $170.30 on Friday. The company has a market capitalization of $101,317.27, a P/E ratio of 30.68, a PEG ratio of 2.10 and a beta of 1.29. Caterpillar has a fifty-two week low of $90.34 and a fifty-two week high of $170.67. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. sell-side analysts predict that Caterpillar will post 6.46 EPS for the current fiscal year.
In other Caterpillar news, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the transaction, the insider now directly owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradley M. Halverson sold 2,600 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $137.67, for a total value of $357,942.00. Following the transaction, the insider now directly owns 5,214 shares of the company’s stock, valued at $717,811.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is currently owned by corporate insiders.
CAT has been the subject of a number of recent analyst reports. UBS Group raised Caterpillar from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $140.00 in a report on Monday, September 18th. BMO Capital Markets increased their price objective on Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Vetr lowered Caterpillar from a “hold” rating to a “sell” rating and set a $137.72 price objective for the company. in a report on Thursday, December 7th. Goldman Sachs Group increased their price objective on Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Finally, OTR Global lowered Caterpillar to a “positive” rating in a report on Monday, December 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $147.72.
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