Caterpillar Inc. (NYSE:CAT) announced a quarterly dividend on Tuesday, April 9th, RTT News reports. Shareholders of record on Monday, April 22nd will be given a dividend of 0.86 per share by the industrial products company on Monday, May 20th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Thursday, April 18th.
Caterpillar has raised its dividend payment by an average of 3.7% annually over the last three years and has increased its dividend every year for the last 9 years. Caterpillar has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Caterpillar to earn $13.00 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 26.5%.
CAT stock opened at $142.03 on Wednesday. Caterpillar has a 52 week low of $112.06 and a 52 week high of $161.60. The stock has a market cap of $81.74 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.74 and a beta of 1.46. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.96 and a current ratio of 1.37.
A number of analysts recently commented on the stock. Bank of America set a $152.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Thursday, April 4th. Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Morgan Stanley set a $165.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 10th. Credit Suisse Group reiterated a “buy” rating and issued a $173.00 target price on shares of Caterpillar in a report on Thursday, February 14th. Finally, UBS Group set a $125.00 target price on shares of Caterpillar and gave the stock a “sell” rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $146.71.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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