Caterpillar Inc. Declares Quarterly Dividend of $0.70 (CAT)
Caterpillar (NYSE:CAT) declared a quarterly dividend on Wednesday, June 11th, American Banking News.com reports. Stockholders of record on Monday, July 21st will be given a dividend of 0.70 per share on Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.56%.
CAT has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated an “outperform” rating on shares of Caterpillar in a research note on Tuesday, May 20th. On a related note, analysts at Zacks upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $128.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Caterpillar from $103.00 to $120.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $98.18.
Shares of Caterpillar (NYSE:CAT) traded down 0.87% during mid-day trading on Wednesday, hitting $108.36. 1,410,382 shares of the company’s stock traded hands. Caterpillar has a 52 week low of $80.86 and a 52 week high of $109.50. The stock’s 50-day moving average is $104.8 and its 200-day moving average is $96.50. The company has a market cap of $67.642 billion and a price-to-earnings ratio of 18.58.
Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 24th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.24 by $0.37. The company had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $13.14 billion. During the same quarter last year, the company posted $1.31 earnings per share. Caterpillar’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Caterpillar will post $6.23 earnings per share for the current fiscal year.
Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
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