Caterpillar Inc. (NYSE:CAT) declared a quarterly dividend on Wednesday, October 12th. Investors of record on Monday, October 24th will be paid a dividend of 0.77 per share on Saturday, November 19th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, October 20th.
Caterpillar (NYSE:CAT) opened at 87.67 on Friday. Caterpillar has a 12 month low of $56.36 and a 12 month high of $89.87. The company has a 50 day moving average price of $84.36 and a 200-day moving average price of $79.01. The company has a market cap of $51.22 billion, a PE ratio of 58.45 and a beta of 1.54.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. Caterpillar’s quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Equities analysts predict that Caterpillar will post $3.50 earnings per share for the current fiscal year.
In related news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares in the company, valued at approximately $1,673,793.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis A. Muilenburg bought 1,930 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were bought at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the acquisition, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.
Large investors have recently modified their holdings of the stock. GAM Holding AG boosted its stake in Caterpillar by 9.2% in the second quarter. GAM Holding AG now owns 90,296 shares of the company’s stock valued at $6,845,000 after buying an additional 7,612 shares during the period. Atlantic Trust Group LLC boosted its stake in Caterpillar by 5.8% in the second quarter. Atlantic Trust Group LLC now owns 22,722 shares of the company’s stock valued at $1,723,000 after buying an additional 1,246 shares during the period. Employees Retirement System of Texas boosted its stake in Caterpillar by 21.3% in the second quarter. Employees Retirement System of Texas now owns 45,500 shares of the company’s stock valued at $3,449,000 after buying an additional 8,000 shares during the period. Advisor Partners LLC boosted its stake in Caterpillar by 2.6% in the second quarter. Advisor Partners LLC now owns 9,163 shares of the company’s stock valued at $695,000 after buying an additional 236 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in Caterpillar by 2.0% in the second quarter. Commonwealth Bank of Australia now owns 95,144 shares of the company’s stock valued at $7,213,000 after buying an additional 1,864 shares during the period. Institutional investors own 69.03% of the company’s stock.
Several research analysts recently issued reports on CAT shares. Jefferies Group reaffirmed a “hold” rating and set a $69.00 target price on shares of Caterpillar in a research report on Tuesday, June 21st. Vetr cut Caterpillar from a “buy” rating to a “hold” rating and set a $80.38 target price on the stock. in a research report on Thursday, June 23rd. Zacks Investment Research cut Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Credit Suisse Group AG reissued a “buy” rating and issued a $87.00 price objective on shares of Caterpillar in a research report on Wednesday, July 13th. Finally, Royal Bank Of Canada boosted their price objective on Caterpillar from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. Caterpillar presently has an average rating of “Hold” and an average target price of $76.48.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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