Caterpillar, Inc. (NYSE:CAT) announced a quarterly dividend on Wednesday, October 11th, RTT News reports. Shareholders of record on Monday, October 23rd will be given a dividend of 0.78 per share by the industrial products company on Monday, November 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, October 20th.

Caterpillar has increased its dividend payment by an average of 21.4% annually over the last three years and has increased its dividend every year for the last 7 years. Caterpillar has a payout ratio of 59.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Caterpillar to earn $6.74 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 46.3%.

Shares of Caterpillar (NYSE CAT) opened at 131.29 on Thursday. The stock’s 50 day moving average is $123.98 and its 200-day moving average is $110.24. The firm has a market cap of $77.59 billion, a P/E ratio of 733.46 and a beta of 1.26. Caterpillar has a one year low of $80.33 and a one year high of $131.65.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share. Analysts anticipate that Caterpillar will post $5.28 EPS for the current fiscal year.

In other news, insider Suzette M. Long sold 13,859 shares of the 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 sale, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock valued at $22,979,332 in the last three months. Company insiders own 0.14% of the company’s stock.

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A number of equities analysts have recently weighed in on CAT shares. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective for the company. in a research report on Monday, September 4th. Jefferies Group LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a research report on Tuesday, August 29th. Royal Bank Of Canada reissued a “hold” rating on shares of Caterpillar in a research report on Tuesday, August 29th. UBS AG raised shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $140.00 in a research report on Monday, September 18th. Finally, BMO Capital Markets boosted their price objective on shares of Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $119.82.

Caterpillar Company Profile

Dividend History for Caterpillar (NYSE:CAT)

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