Caterpillar Inc. Announces Quarterly Dividend of $0.52 (CAT)
Caterpillar (NYSE:CAT) announced a quarterly dividend on Wednesday, December 12th. Investors of record on Monday, December 24th will be paid a dividend of $0.52 per share on Monday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 2.38%.
Several analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Caterpillar in a research note to investors on Monday, November 19th. They now have a $86.00 price target on the stock. On a related note, analysts at JPMorgan Chase downgraded shares of Caterpillar from an “overweight” rating to a “neutral” rating in a research note to investors on Monday, November 12th. They now have a $90.00 price target on the stock, down previously from $109.00. Finally, analysts at Goldman Sachs downgraded shares of Caterpillar to a “buy” rating in a research note to investors on Friday, October 26th. They now have a $103.00 price target on the stock. They also removed the stock from their conviction buy list.
Shares of Caterpillar (CAT) traded up 0.76% during mid-day trading on Wednesday, hitting $87.99. Caterpillar (CAT) has a one year low of $78.25 and a one year high of $116.95. The company has a market cap of $57.540 billion and a P/E ratio of 8.95.
Caterpillar last announced its earnings results on Monday, October 22nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.30. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts predict that Caterpillar (CAT) will post $9.13 earnings per share for the current fiscal year.
Caterpillar Inc. (Caterpillar) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
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