Delta is one of the top airlines, and it just lifted its distribution by a generous 50%. Heavy equipment maker Caterpillar has raised its dividend for the 30th year in a row.
In the closing of the recent trading day, Caterpillar (CAT) stood at $328.48, denoting a +0.74% change from the preceding trading day.
Deere stock (NYSE: DE) currently trades at $355 per share, around 20% below its peak level of $438 seen in April 2022. In comparison, its peer – Caterpillar stock (NYSE: CAT) saw its stock rise by around 40% over the same period.
Caterpillar (CAT) is poised well to gain on demand for construction and mining equipment, and efforts to increase its autonomous offerings and service revenues.
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Caterpillar (CAT) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
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Buybacks can provide a nice confidence boost for investors, indicating that the company is utilizing excess cash and can help put in a floor for shares.
Citi analyst Kyle Menges launched coverage of several U.S. machinery stocks. He has a Buy rating on Caterpillar stock, and a Hold rating on Deere's.