Caterpillar Inc. (NYSE:CAT) Declares Quarterly Dividend of $1.51

Key Points

• Caterpillar Inc. has declared a quarterly dividend of $1.51 per share, with the payment date set for November 20th, benefiting stockholders of record on October 20th.
• The company reports a payout ratio of 26.7%, indicating that its dividend is well-supported by earnings, and projected future earnings suggest continued ability to cover its dividend.
• Caterpillar's stock has recently reached an all-time high of $504.48, and several research firms have raised their price targets, with a consensus price target of $466.53 indicating positive market sentiment.

Caterpillar Inc. (NYSE:CAT - Get Free Report) declared a quarterly dividend on Monday, October 6th, RTT News reports. Stockholders of record on Monday, October 20th will be paid a dividend of 1.51 per share by the industrial products company on Thursday, November 20th. This represents a c) annualized dividend and a dividend yield of 1.2%.

Caterpillar has a payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Caterpillar to earn $22.11 per share next year, which means the company should continue to be able to cover its $5.64 annual dividend with an expected future payout ratio of 25.5%.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $498.48 on Monday. The stock has a market cap of $233.53 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 3.03 and a beta of 1.46. The stock's 50-day moving average is $436.99 and its 200 day moving average is $379.06. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar has a 1-year low of $267.30 and a 1-year high of $504.48.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.99 earnings per share. On average, sell-side analysts anticipate that Caterpillar will post 19.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CAT. Truist Financial upped their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Robert W. Baird boosted their price objective on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Jefferies Financial Group restated a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. Citigroup reiterated a "buy" rating on shares of Caterpillar in a report on Tuesday, September 23rd. Finally, Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $466.53.

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.

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