Dow Component Caterpillar (CAT) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading up 98 points (+0.6%) at 16,471 as of Wednesday, Jan 15, 2014, 10:35 a.m. ET. During this time, 107.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 355 million. The NYSE advances/declines ratio sits at 1,865 issues advancing vs. 1,004 declining with 190 unchanged.
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Thursday, January 16, 2014 is the ex-dividend date for Dow component Caterpillar (NYSE: CAT). Owners of shares as of market close today will be eligible for a dividend of 60 cents per share. At a price of $92.35 as of 10:35 a.m. ET, the dividend yield is 2.7% compared to the average Dow component yield of 2.6%.

The average volume for Caterpillar has been 5.1 million shares per day over the past 30 days. Caterpillar has a market cap of $57.2 billion and is part of the industrial goods sector and industrial industry. Shares are down 0.3% year to date as of Tuesday's close.

Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. The company has a P/E ratio of 17.1, above the average industrial industry P/E ratio of 17.
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TheStreet Ratings rates Caterpillar as a buy. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

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