Caterpillar Inc. (NYSE:CAT) is among the 15 Dividend Stocks that Have Raised Payouts for 20+ Years. BofA Securities raised Caterpillar’s price target from $517 to $594, citing growth in turbine and data center segments. Lead times for small turbines exceed two years, strengthening Caterpillar’s position in the market.

Growing demand from data centers could add significant value to Caterpillar, similar to its presence in the oil and gas sector. The company’s exchange program enhances reliability and its mobile power units offer flexibility. Existing turbine capacity remains below market demand, requiring potential co-investment to bridge the gap.

Caterpillar Inc. (NYSE:CAT) has a dependable dividend track record, with 31 consecutive years of dividend increases. The quarterly dividend is $1.51 per share with a yield of 1.12% as of October 16. Caterpillar is a global leader in heavy machinery production, serving industries like construction, mining, and energy across the globe through its extensive dealer network.

Read more at Yahoo Finance: BofA Lifts Caterpillar (CAT) Price Target, Highlights Growth in Turbine and Data Center Segments