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Caterpillar Inc. (NYSE:CAT) is one of the best forever stocks to buy according to hedge funds. On December 11, analysts at Citi raised Caterpillar Inc. (NYSE:CAT)’s price target to $690 from $670 while reiterating a Buy rating. The price target hike comes as the research firm remains confident about the machinery group outlook. The firm maintains a strong conviction in the construction and mining sectors, expecting continued growth heading into next year.
Analysts at Truist Securities have also reiterated a Buy rating on the stock, impressed by the company’s strong backlog for power generation applications that has reached $40 billion. In addition, the company has inked a strategic partnership with Vertiv to develop advanced energy-optimization solutions for data centers.
The remarks come on the heels of Caterpillar reiterating it will maintain its quarterly dividend at $1.51 a share, asserting its commitment to shareholder value. The dividend is to be paid on February 19 to shareholders of record as of January 20, 2026. It represents an annual dividend yield of 1.02%.
Caterpillar Inc. (NYSE:CAT) is the world’s leading manufacturer of construction and mining equipment. It provides heavy machinery, power systems, and digital solutions for industries such as construction, energy, and transport, as well as financial services and equipment rentals.
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Disclosure: None. This article is originally published at Insider Monkey.