Caterpillar Inc. (NYSE:CAT – Get Rating) announced a quarterly dividend on Wednesday, April 13th, RTT News reports. Investors of record on Monday, April 25th will be given a dividend of 1.11 per share by the industrial products company on Friday, May 20th. This represents a $4.44 dividend on an annualized basis and a yield of 2.04%.
Caterpillar has a dividend payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Caterpillar to earn $14.65 per share next year, which means the company should continue to be able to cover its $4.44 annual dividend with an expected future payout ratio of 30.3%.
Caterpillar stock traded up $0.64 on Wednesday, reaching $217.34. The company’s stock had a trading volume of 16,970 shares, compared to its average volume of 3,880,138. Caterpillar has a twelve month low of $179.67 and a twelve month high of $246.69. The company has a market cap of $116.47 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.46 and a beta of 0.96. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.99 and a current ratio of 1.46. The business’s fifty day moving average price is $207.86 and its 200 day moving average price is $206.09.
In related news, Director David Maclennan bought 480 shares of the stock in a transaction that occurred on Monday, February 7th. The stock was acquired at an average cost of $199.50 per share, with a total value of $95,760.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Suzette M. Long sold 40,356 shares of the firm’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $220.00, for a total value of $8,878,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,034 shares of company stock valued at $10,166,136. 0.18% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at $31,000. Camden National Bank increased its stake in Caterpillar by 9.6% during the 4th quarter. Camden National Bank now owns 1,833 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 160 shares in the last quarter. Keudell Morrison Wealth Management lifted its position in Caterpillar by 2.9% in the 3rd quarter. Keudell Morrison Wealth Management now owns 5,931 shares of the industrial products company’s stock valued at $1,139,000 after acquiring an additional 165 shares in the last quarter. KB Financial Partners LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $41,000. Finally, Carroll Investors Inc bought a new position in shares of Caterpillar during the 4th quarter worth approximately $45,000. 67.11% of the stock is owned by institutional investors and hedge funds.
CAT has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of Caterpillar in a research note on Friday, March 11th. They issued an “equal weight” rating and a $231.00 price objective on the stock. Credit Suisse Group decreased their price objective on Caterpillar from $275.00 to $255.00 and set an “outperform” rating for the company in a research note on Monday, January 31st. Jefferies Financial Group raised Caterpillar from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $260.00 in a research note on Tuesday, March 8th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $241.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, March 28th. Finally, StockNews.com initiated coverage on shares of Caterpillar in a research note on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $242.22.
Caterpillar Company Profile (Get Rating)
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
- Get a free copy of the StockNews.com research report on Caterpillar (CAT)
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