10 Best Consistent Dividend Stocks To Invest In Right Now

7. Caterpillar Inc. (NYSE:CAT)

Number of Hedge Fund Holders: 50

Caterpillar Inc. (NYSE:CAT) is an American company that specializes in construction, mining, and other engineering equipment. The company operates through multiple segments, catering to diverse industries such as construction, mining, and power generation. Its extensive product range helps reduce dependency on any single sector or region, offering resilience during economic uncertainties. In recent years, Caterpillar has prioritized expanding its product lineup and incorporating sustainability into its operations. These strategic efforts focus on achieving sustained profit growth by addressing changing customer demands and advancing technological capabilities. This approach strengthens its position as a market leader, enabling it to influence industry trends while maintaining a competitive edge in pricing and innovation.

The third quarter of 2024 was challenging for Caterpillar Inc. (NYSE:CAT). The company reported revenue of over $16 billion, which fell by 4% from the same period last year, and also missed analysts’ estimates by $133.6 million. The Construction Industries segment experienced a 9% drop in sales, mainly attributed to lower sales volumes and adverse price adjustments.

Despite these challenges, Caterpillar Inc. (NYSE:CAT)’s cash generation remained strong. The company reported an operating cash flow of $3.6 billion and its enterprise cash came in at $5.6 billion. Its cash position allowed it to distribute $0.7 billion to shareholders through dividends. On October 9, the company announced a quarterly dividend of $1.41 per share, which was in line with its previous dividend. Overall, it has been growing its dividends consistently for the past 30 years, which makes CAT one of the best dividend stocks on our list. The stock’s dividend yield on December 4 came in at 1.41%.

Insider Monkey’s database of Q3 2024 indicated that 50 hedge funds owned stakes in Caterpillar Inc. (NYSE:CAT), up from 49 in the previous quarter. The total value of these stakes is over $7.4 billion.