Caterpillar Inc. (CAT) to Issue Quarterly Dividend of $1.63 on August 19th

Caterpillar Inc. (NYSE:CAT) announced a quarterly dividend on Wednesday, June 10th. Investors of record on Monday, July 20th will be paid a dividend of 1.63 per share by the industrial products company on Wednesday, August 19th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, July 20th. This is a 7.9% increase from Caterpillar’s previous quarterly dividend of $1.51.

Caterpillar has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 30 years. Caterpillar has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Caterpillar to earn $30.59 per share next year, which means the company should continue to be able to cover its $6.04 annual dividend with an expected future payout ratio of 19.7%.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $898.14 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar has a twelve month low of $355.70 and a twelve month high of $946.83. The stock has a market cap of $413.68 billion, a price-to-earnings ratio of 44.71, a P/E/G ratio of 1.69 and a beta of 1.59. The company’s fifty day moving average is $848.24 and its 200 day moving average is $725.35.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping the consensus estimate of $4.65 by $0.89. The company had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. Caterpillar’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.25 earnings per share. Sell-side analysts forecast that Caterpillar will post 24.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAT shares. Williams Trading set a $825.00 price target on shares of Caterpillar in a research report on Tuesday, March 10th. Robert W. Baird upped their price target on shares of Caterpillar from $940.00 to $1,165.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Morgan Stanley set a $915.00 price target on shares of Caterpillar and gave the company an “equal weight” rating in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating and set a $1,103.00 price target on shares of Caterpillar in a research report on Monday, May 11th. Finally, Bank of America upped their price target on shares of Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $933.27.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.