11 Best Value Dividend Stocks to Buy Now

7. Caterpillar Inc. (NYSE:CAT)

Forward P/E as of September 26: 21.98

Caterpillar Inc. (NYSE:CAT) is a global manufacturer of heavy equipment, producing machinery for construction and mining, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. With the help of its worldwide dealer network, the company operates on every continent.

Over time, Caterpillar Inc. (NYSE:CAT) has broadened its business. It licenses its brand for apparel and footwear and also offers financing solutions through Cat Financial. More recently, the company has been working to reduce the ups and downs of its cyclical sales by expanding its services segment, which provides steadier, recurring revenue.

Caterpillar Inc. (NYSE:CAT) currently offers a quarterly dividend of $1.51 per share, having raised it by 7.1% in June this year. This marked the company’s 31st consecutive year of dividend growth. As of September 26, the stock has a dividend yield of 1.30%.