NEW YORK, NY -- (Marketwire) -- 03/01/13 -- Shares of machinery companies received a boost Tuesday after the Commerce Department reported orders for so-called core capital goods posted a 6.3 percent sequential gain in January. Core capital goods include industrial machinery, construction equipment and computers. Five Star Equities examines the outlook for companies in the Industrial Goods Sector and provides equity research on Caterpillar Inc. (NYSE: CAT) and Deere & Company (NYSE: DE).
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The jump in core capital goods is a strong signal that business investment is on the rebound in early 2013. The increase in January follows a 0.3 percent decline in December. "This was a really strong report as it indicates that businesses felt confident enough to order a ton of big ticket items in January," said Joel Naroff of Naroff Economic Advisors.
Additionally, the Commerce Department earlier this month reported that construction spending in 2012 totaled $850.2 billion, an increase of 9.2 percent when compared to 2011. The increase was the first in six years, yet still 27.2 percent below the 2006 all-time high of $1.17 trillion.
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Caterpillar currently offers investors an annual dividend of $2.08 a share for a dividend yield of approximately 2.25 percent. The company reported record sales and revenues of $65.875 billion for full year 2012, an increase of 10 percent when compared to sales and revenues of $60.138 billion posted a year ago.
Deere & Company's Board of Directors have recently approved an 11 percent increase in the company's quarterly dividend to $0.51 a share. The company now offers investors an annual dividend of $2.04 a share for a dividend yield of approximately 2.3 percent. Deere & Company reported record first quarter earnings of $649.7 million, compared to earnings of $532.9 million a year ago.
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