Caterpillar stock gains again, and is by far the Dow’s best performer in June

Shares of Caterpillar Inc.
CAT,
+0.94%
rose 0.4% toward a fourth-straight gain, which puts it on track for the best monthly performance in eight months. The construction- and mining-equipment maker’s stock has rallied 3.6% over the past four sessions. And the 18.0% gain so far in June makes the stock by far the best performer among Dow Jones Industrial Average
DJIA,
+0.72%
components; the next biggest gainer this month is Dow Inc.’s stock
DOW,
+0.47%,
which has rallied 8.8%. That would be the best monthly performance for Caterpillar’s stock since it rocketed 31.9% in October 2022. June’s gain comes after it had tumbled 18.4% amid a four-month losing streak through May, with the stock closing May 31 at an eight-month low. The company’s last press release was on June 21, when the company said Chief Legal Officer Suzette Long was retiring after 18 years with the company. And on June 14, the company said it raised its quarterly dividend by 8% to $1.30 a share. The stock has edged up 1.4% year to date, while the Dow has tacked on 2.8%.