Caterpillar, Inc. (NYSE:CAT) announced a quarterly dividend on Wednesday, December 13th, RTT News reports. Shareholders of record on Monday, January 22nd will be paid a dividend of 0.78 per share by the industrial products company on Tuesday, February 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.18%.
Caterpillar has raised its dividend payment by an average of 21.4% per year over the last three years and has increased its dividend every year for the last 7 years. Caterpillar has a dividend payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Caterpillar to earn $7.76 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 40.2%.
Shares of Caterpillar (NYSE:CAT) traded down $0.35 during trading on Wednesday, reaching $143.42. 3,397,000 shares of the company’s stock were exchanged, compared to its average volume of 4,357,071. 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 has a 12-month low of $90.34 and a 12-month high of $145.19. The company has a market cap of $85,533.62, a P/E ratio of 25.91, a PEG ratio of 2.16 and a beta of 1.29.
A number of brokerages have weighed in on CAT. ValuEngine downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Wells Fargo & Company set a $150.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. UBS set a $155.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a report on Tuesday, December 5th. Barclays assumed coverage on shares of Caterpillar in a report on Tuesday. They set an “overweight” rating and a $162.00 price objective for the company. Finally, Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price objective for the company. in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $139.14.
In related news, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction dated Thursday, October 26th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $137.09, for a total transaction of $522,724.17. Following the transaction, the director now directly owns 6,554 shares of the company’s stock, valued at $898,487.86. The disclosure for this sale can be found here. Insiders have sold a total of 52,989 shares of company stock valued at $7,235,850 over the last three months. 0.14% of the stock is currently owned by insiders.
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