Caterpillar Inc. (NYSE:CAT) Announces $1.30 Quarterly Dividend

Caterpillar Inc. (NYSE:CAT) declared 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 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th.

Caterpillar has raised its dividend payment by an average of 6.7% per year over the last three years and has raised 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. 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 Performance

Shares of CAT stock opened at $358.33 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. The firm has a 50-day moving average of $345.24 and a 200-day moving average of $296.78. Caterpillar has a one year low of $204.04 and a one year high of $382.01. The company has a market cap of $178.95 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.60 and a beta of 1.17.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.86 EPS. Equities research analysts forecast that Caterpillar will post 21.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAT. The Goldman Sachs Group raised their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and lifted their price objective for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. Sanford C. Bernstein increased their target price on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research report on Thursday, December 21st. Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target on the stock. Finally, TD Cowen raised their target price on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $307.56.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the completion of the sale, the chief financial officer now owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated 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 owns 23,474 shares in the company, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock worth $14,509,306 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares in the last quarter. Aspect Partners LLC bought a new stake in Caterpillar in the fourth quarter worth $25,000. Atlas Capital Advisors LLC boosted its position in Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after buying an additional 79 shares during the period. First Capital Advisors Group LLC. bought a new position in shares of Caterpillar during the second quarter valued at about $30,000. Finally, A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Caterpillar in the fourth quarter worth about $30,000. 70.98% of the stock is currently owned by institutional investors.

About Caterpillar

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.