Caterpillar NYSE: CAT sprzęt budowlany koparki, spychacze, obuwie, odzież

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#Caterpillar hikes dividend by 8.3%. $CAT

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Caterpillar (NYSE:CAT) stock rose 1.6% after the construction equipment maker reported a rise in quarterly profit, as higher infrastructure spending in regions such as North America drove demand for its products.

Caterpillar warns of lower sales, margins in third quarter

(Reuters) -Caterpillar Inc warned of a fall in third-quarter sales and margins on Tuesday as dealer inventories rose again, stoking worries that demand for its heavy machinery used in everything from construction to mining may have peaked.

Cost controls and price increases have protected profits amid persistent supply-chain disruptions and inflationary pressures, but analysts have flagged that a slowing economy is starting to depress order activity from commercial businesses, which account for 75% of the company's customer base.

Caterpillar (NYSE:CAT), seen as a proxy for global economic activity, said on Tuesday it was expecting third-quarter sales and operating profit margin to be higher than in the previous year, but lower compared to the second quarter.

The manufacturer reported a $600 million increase in dealer inventory in the second quarter from a year earlier, primarily in its energy and transportation business, as drilling at North American rigs shows signs of weakening.

Backlog at quarter-end increased by $300 million, compared with the prior three months.

Executives have said inventory levels are nearly back to normal. The company's ramp-up in production is being driven by its strategy to make up for lost sales due to a constrained supply chain, analysts said.

"Our experts believe that if dealer inventory continues to spike and new sales come down, that can indicate the beginning of a near-term downcycle despite the long-term tailwind of infrastructure spending," said Ryan Keeney, an analyst at research firm Third Bridge.

Meanwhile, Caterpillar reported an adjusted profit of $5.55 per share in the second quarter, beating analysts' expectations of $4.58 per share.

Sales rose 21.6% to $17.32 billion, above Wall Street estimates of $16.49 billion.

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Caterpillar Inc (NYSE:CAT). announced an upcoming dividend of $1.30 per share on Tuesday, which will lead to a yearly total of $5.20 per share. This announcement comes as the company is nearing its ex-dividend date, with shareholders required to purchase before the deadline to be eligible for the dividend payout.

With a current stock price of $270.79, Caterpillar's trailing yield stands at approximately 1.9%. According to InvestingPro's real-time metrics, Caterpillar's market capitalization is around 138.97B USD, and it has a P/E ratio of 16.92. The company maintains a sustainable dividend payout ratio of 30% from its earnings, thus minimizing any risk of dividend reduction.

In addition to its dividend strategy, Caterpillar earmarks just 34% of its free cash flow for dividends, indicating a strategy of earnings reinvestment. This approach aligns with the firm's robust annual earnings growth rate of 67% over the past five years. InvestingPro's data shows that Caterpillar's revenue growth has been accelerating, with a growth rate of 19.88% in the last twelve months up to Q2 2023.

Over the last decade, Caterpillar has also demonstrated a steady increase in dividends, averaging around 9.6% per year. This consistent growth highlights both the stock price and the sustainability of its earnings growth, reinforcing Caterpillar's commitment to providing value to its shareholders while ensuring the financial health of the company.

InvestingPro Tips also highlights that Caterpillar has consistently increased its earnings per share and has raised its dividend for 10 consecutive years. The company operates with a high return on assets, as evidenced by a return of 10.04% in the last twelve months up to Q2 2023. It's also worth noting that Caterpillar has maintained dividend payments for 53 consecutive years, a testament to the company's stability and commitment to its shareholders.