What's Going On With Caterpillar Shares Wednesday?
Portfolio Pulse from Vaishali Prayag
Caterpillar Inc. (NYSE:CAT) shares are rising after the company announced an 8% dividend increase and a $20 billion addition to its share repurchase program. The company also reported strong earnings, surpassing EPS estimates but slightly missing revenue expectations.
June 12, 2024 | 5:37 pm
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Caterpillar's shares are moving higher due to an 8% dividend increase and a $20 billion addition to its share repurchase program. The company also reported strong earnings, surpassing EPS estimates but slightly missing revenue expectations.
The increase in dividend and share repurchase program signals strong financial health and commitment to returning value to shareholders, which is likely to positively impact the stock price in the short term. Additionally, surpassing EPS estimates further supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100