Caterpillar Inc. (NYSE:CAT) has earned an average rating of “Hold” from the twenty-seven ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $228.30.
A number of research analysts have recently issued reports on the company. Wolfe Research assumed coverage on Caterpillar in a report on Monday, April 19th. They issued an “outperform” rating and a $265.00 price target on the stock. Citigroup boosted their target price on Caterpillar from $205.00 to $245.00 in a research note on Tuesday, March 16th. Stifel Nicolaus boosted their target price on Caterpillar from $222.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, May 3rd. Zacks Investment Research downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a research note on Wednesday, June 30th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $264.00 target price on shares of Caterpillar in a research note on Thursday, May 27th.
In related news, insider Joseph E. Creed sold 7,699 shares of Caterpillar stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $245.12, for a total value of $1,887,178.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan purchased 420 shares of the business’s stock in a transaction that occurred on Wednesday, May 5th. The stock was acquired at an average price of $237.86 per share, with a total value of $99,901.20. Following the purchase, the director now owns 890 shares in the company, valued at $211,695.40. The disclosure for this purchase can be found here. Insiders own 0.18% of the company’s stock.
Several institutional investors have recently made changes to their positions in CAT. Camden National Bank increased its stake in shares of Caterpillar by 9.6% in the 4th quarter. Camden National Bank now owns 1,833 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 160 shares in the last quarter. Berman Capital Advisors LLC increased its stake in Caterpillar by 10.1% during the 4th quarter. Berman Capital Advisors LLC now owns 2,300 shares of the industrial products company’s stock worth $418,000 after buying an additional 211 shares in the last quarter. Eqis Capital Management Inc. increased its stake in Caterpillar by 2.6% during the 4th quarter. Eqis Capital Management Inc. now owns 2,707 shares of the industrial products company’s stock worth $493,000 after buying an additional 69 shares in the last quarter. Personal Capital Advisors Corp increased its stake in Caterpillar by 26.0% during the 4th quarter. Personal Capital Advisors Corp now owns 4,575 shares of the industrial products company’s stock worth $833,000 after buying an additional 943 shares in the last quarter. Finally, Change Path LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $250,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.
Shares of NYSE:CAT opened at $215.19 on Wednesday. Caterpillar has a 12-month low of $129.23 and a 12-month high of $246.69. The firm has a fifty day moving average of $228.51. The stock has a market cap of $117.88 billion, a P/E ratio of 34.43, a PEG ratio of 1.89 and a beta of 0.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.60 and a quick ratio of 1.15.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.94. Caterpillar had a return on equity of 26.63% and a net margin of 7.99%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11 billion. During the same period last year, the business posted $1.60 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that Caterpillar will post 9.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 20th. Stockholders of record on Tuesday, July 20th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $1.03. Caterpillar’s payout ratio is 62.80%.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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