Mining and construction equipment manufacturer Caterpillar Inc. (CAT) reported on Wednesday a decline in global sales, as the retail sale of machines fell 13% for the month of February.
The Asia/Pacific market, one of CAT’s most important areas, saw retail sales of machines fall 26% in the rolling three month period ending in February compared to the same period a year ago. In Europe, Africa, and the Middle east, sales were down 9%; North American sales were down 12%. Last month, global retail sales of machines were down 4%.
Caterpillar did see an uptick in Latin American sales, however, rising 3%.
Power systems retail statistics were also down, with global figures falling 7%. Industrial systems saw the biggest drop, falling 25%. Transportion systems did rise 15%, however.
Caterpillar shares were down $1.29, or -1.48%, during Wednesday morning trading. The stock is down -21.47% over the past year.
The Bottom Line
Shares of Caterpillar (CAT) have a dividend yield of 2.39% based on Wednesday’s intraday trading price of $86.98 and the company’s annualized dividend payout of $2.08 per share.
Caterpillar Inc. (CAT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.