There are no safe havens in the stock market. Every stock carries risk. But some less than others. This column features stocks that have shown one or more of the following characteristics: less volatility, better earnings, larger market caps, safe and increasing dividends. In these times of turmoil, our goal is to show readers better opportunities for investing with fewer risks.

April 20, 2012 - Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. It offers backhoe, skid steer, multi-terrain, track-type, and wheel loaders; track, wheel, and mini excavators; select work tools; track-type tractors; motor graders; pipelayers; and related parts for the heavy construction, general construction, mining and quarry, and aggregates markets.

In addition, it offers reciprocating engine powered generator sets; integrated systems for the electric power generation industry; reciprocating engines and integrated systems and solutions for the marine and petroleum industries, and industrial applications; turbines and turbine-related services; and diesel-electric locomotives and components, and other rail-related products and services.

Further, the company provides retail financing for its equipment, machinery, and engines, as well as for vehicles, power generation facilities, and marine vessels that incorporate its products; wholesale financing to its dealers and customers; and insurance services.

Additionally, it offers component manufacturing, remanufacturing, and logistics services, as well as distributes other companies' products. Caterpillar Inc. markets through its sales force, distribution centers, dealers, and distributors. The company was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986. Caterpillar Inc. was founded in 1925 and is headquartered in Peoria, Illinois.

Latest News:
Caterpillar Inc.has received a go-ahead from the Ministry of Commerce of the People's Republic of China ("MOFCOM") for the acquisition of China-based underground coal mining equipment manufacturer ERA Mining Machinery Limited.

Expectations:
First quarter earnings will be released April 25. Analysts' estimate: $2.13, up 15.8% from last year's first period.
Second quarter earnings consensus estimate: $2.44 vs $1.52 in 2011's second quarter.
Full year, 2012: $9.54
Full year, 2013: $11.32

Important Numbers:
- Trailing P/E: 14.58
- Forward P/E: 9.53
- Price to sales ratio: 1.16
- Price to book: 5.4
- Profit margin: 8.19%
- Operating margin: 11.91%
- Return on equity: 40.29%
- Return on assets: 8.19%
- Revenues last 12 months: $60.14 billion
- Total cash: $1.83 billion
- Total cash per share: $2.83
- Total debt: $34.60 billion
- Debt to equity: 258.16%
- Current ratio: 1.34
- Book value per share: $19.90
- Beta: 2.01
- 52 week change: -1.37%
- Total shares outstanding: 647.53 million
- Float: 646.08 million
- Held by insiders: .28%
- Held by institutions: 64.5%
- Dividend: $1.84
- Yield: 1.7%

Company Web site: www.caterpillar.com

- Ted Allrich