Caterpillar Inc. (NYSE:CAT – Get Free Report) announced a quarterly dividend on Wednesday, April 10th, RTT News reports. Stockholders of record on Monday, April 22nd will be given a dividend of 1.30 per share by the industrial products company on Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th.
Caterpillar has increased its dividend payment by an average of 6.7% per year over the last three years and has increased its dividend every year for the last 29 years. Caterpillar has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Caterpillar to earn $22.88 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 22.7%.
Caterpillar Stock Down 1.2 %
Shares of Caterpillar stock opened at $359.65 on Wednesday. Caterpillar has a 12-month low of $204.04 and a 12-month high of $382.01. The stock has a market capitalization of $179.61 billion, a P/E ratio of 17.86, a PEG ratio of 1.62 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The stock has a 50 day moving average price of $344.54 and a two-hundred day moving average price of $296.35.
Insiders Place Their Bets
In related news, Director David Maclennan bought 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David Maclennan bought 350 shares of the stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $323.37 per share, with a total value of $113,179.50. Following the purchase, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock valued at $14,509,306 in the last 90 days. 0.33% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Caterpillar
Several institutional investors have recently modified their holdings of the business. Aspect Partners LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $25,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Caterpillar in the fourth quarter valued at approximately $30,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares during the period. Atlas Capital Advisors LLC boosted its position in shares of Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Caterpillar in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on CAT shares. Morgan Stanley started coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. Stifel Nicolaus boosted their price target on shares of Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. The Goldman Sachs Group raised their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup upped their target price on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $307.56.
View Our Latest Stock Analysis on Caterpillar
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
Recommended Stories
- Five stocks we like better than Caterpillar
- Business Services Stocks Investing
- Are We in a Bull Market? 4 Factors that Determine a Bull Market
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Checking in with 5 Bitcoin Stocks Ahead of Bitcoin’s Halving
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.