Caterpillar Inc. Plans Quarterly Dividend of $0.77 (CAT)
Caterpillar Inc. (NYSE:CAT) declared a quarterly dividend on Wednesday, October 12th. Investors of record on Monday, October 24th will be paid a dividend of 0.77 per share on Saturday, November 19th. This represents a $3.08 dividend on an annualized basis and a yield of 3.52%.
Shares of Caterpillar (NYSE:CAT) traded down 0.10% during trading on Wednesday, reaching $87.38. The company had a trading volume of 1,219,854 shares. Caterpillar has a 52-week low of $56.36 and a 52-week high of $89.87. The firm has a market capitalization of $51.05 billion, a P/E ratio of 58.25 and a beta of 1.54. The company has a 50 day moving average of $84.01 and a 200-day moving average of $78.81.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.13. The company had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The business’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Equities analysts expect that Caterpillar will post $3.50 earnings per share for the current year.
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In other news, Director Dennis A. Muilenburg bought 1,930 shares of the stock in a transaction dated Friday, July 29th. The shares were bought at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the purchase, the director now owns 9,558 shares in the company, valued at $790,924.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the transaction, the insider now owns 20,232 shares in the company, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Virtu Financial LLC raised its position in shares of Caterpillar by 64.8% in the second quarter. Virtu Financial LLC now owns 9,185 shares of the company’s stock worth $696,000 after buying an additional 3,611 shares during the period. Krilogy Financial LLC raised its position in 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 during the period. SevenBridge Financial Group LLC bought a new position in Caterpillar during the second quarter worth approximately $234,000. Westwood Holdings Group Inc. raised its position in Caterpillar by 0.8% in the second quarter. Westwood Holdings Group Inc. now owns 17,173 shares of the company’s stock worth $1,302,000 after buying an additional 136 shares during the period. Finally, Capital Research Global Investors raised its position in Caterpillar by 1.3% in the second quarter. Capital Research Global Investors now owns 16,596,856 shares of the company’s stock worth $1,258,208,000 after buying an additional 218,191 shares during the period. Institutional investors own 69.03% of the company’s stock.
A number of equities analysts have commented on the company. Barclays PLC boosted their price objective on Caterpillar from $78.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Vetr raised Caterpillar from a “hold” rating to a “buy” rating and set a $96.01 price objective on the stock in a research note on Wednesday. Jefferies Group upped their price target on Caterpillar from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Finally, RBC Capital Markets set a $73.00 price target on Caterpillar and gave the company a “hold” rating in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $76.23.
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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