Caterpillar Inc. Plans Quarterly Dividend of $0.77 (CAT)
Caterpillar Inc. (NYSE:CAT) declared a quarterly dividend on Wednesday, October 12th. Stockholders of record on Monday, October 24th will be given a dividend of 0.77 per share on Saturday, November 19th. This represents a $3.08 annualized dividend and a dividend yield of 3.52%.
Caterpillar (NYSE:CAT) traded down 0.10% during trading on Wednesday, hitting $87.38. 1,219,854 shares of the stock traded hands. Caterpillar has a 52-week low of $56.36 and a 52-week high of $89.87. The company’s 50 day moving average price is $84.01 and its 200-day moving average price is $78.81. The stock has a market cap of $51.05 billion, a P/E ratio of 58.25 and a beta of 1.54.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. Equities research analysts forecast that Caterpillar will post $3.50 earnings per share for the current fiscal year.
Several brokerages have issued reports on CAT. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, September 27th. Vetr raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $85.19 price objective for the company in a research report on Tuesday, September 13th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Tuesday, August 30th. Deutsche Bank AG began coverage on shares of Caterpillar in a research report on Monday, September 12th. They issued a “buy” rating and a $82.08 price objective for the company. Finally, Bank of America Corp. reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Caterpillar in a research report on Monday, October 3rd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $76.23.
In related news, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the transaction, the insider now directly owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dennis A. Muilenburg bought 1,930 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were purchased at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC boosted its position in shares of Caterpillar by 42.0% in the second quarter. Krilogy Financial LLC now owns 2,232 shares of the company’s stock worth $169,000 after buying an additional 660 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in shares of Caterpillar during the second quarter worth $229,000. MCF Advisors LLC boosted its position in shares of Caterpillar by 8.1% in the second quarter. MCF Advisors LLC now owns 3,077 shares of the company’s stock worth $233,000 after buying an additional 231 shares in the last quarter. SevenBridge Financial Group LLC bought a new position in shares of Caterpillar during the second quarter worth $234,000. Finally, Johnson Financial Group Inc. boosted its position in shares of Caterpillar by 193.6% in the second quarter. Johnson Financial Group Inc. now owns 3,250 shares of the company’s stock worth $246,000 after buying an additional 2,143 shares in the last quarter. 69.03% of the stock is currently owned by hedge funds and other institutional investors.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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