Caterpillar gains 0.32%, closes at $258.44 ahead of the quarterly earnings report set for Tuesday

Published: January 25 2023, 21:46 GMT+0

Caterpillar gains 0.32%, closes at $258.44 ahead of the quarterly earnings report set for Tuesday

Today at a glance: after ending yesterday at $257.61, Caterpillar went up to $259.19 only to drop back, yet still traded well overall and closed at $258.44 today.

  • Trading volume totalled 2 million which equates to around 71% of the stock's 21-day average today.
  • Caterpillar's board sets quarterly dividend of $1.2 per share to be paid on Friday, February 17th; annual dividend yield esimated at 1.86%.

With around 16 hours until market open on the New York Stock Exchange, today's session was notable in that S&P 500 performed relatively strongly, finishing the day at 4,016.22. Dow Jones performed relatively strongly, finishing the day at 33,744. Caterpillar was largely unchanged while the broader Industrials sector added 0.32%.

Caterpillar is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 3.95 and the consensus revenue estimate is $16.11 billion.

The construction and mining equipment manufacturer is up 58.59% from the significant low of $162.44 it hit 3 months ago. So far this year, it has performed better than the Dow Jones by 6.07%. Caterpillar has a market cap of $134.49 billion with an average daily volume of 2.95 million shares.

Just recently, Caterpillar's board disclosed a quarterly dividend of $1.2 per share to be paid on Friday, February 17th for all shareholders of record up until Friday, January 20th. Based on current prices, the company's decision thereby provides Caterpillar investors with an annual dividend yield of 1.86%.

This rally in Caterpillar's share price coincided with other industrials stocks as Lockheed Martin gained 1.1%, as it traded at $454.16.

While Caterpillar was bullish today, the following industrials stocks underperformed: United Parcel Service decreases 1.41% today to close at $180. Union Pacific went down to $200.12, losing 1.51% after it closed at $203.18 today.

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