Robert W. Baird upgraded shares of Caterpillar (NYSE:CAT) from a neutral rating to an outperform rating in a research report sent to investors on Thursday, September 20th, Marketbeat reports. They currently have $158.00 price target on the industrial products company’s stock.
CAT has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on Caterpillar to $166.00 and gave the stock a sector perform rating in a report on Tuesday, July 31st. Zacks Investment Research cut Caterpillar from a strong-buy rating to a hold rating in a report on Tuesday, June 26th. BMO Capital Markets lowered their target price on Caterpillar from $195.00 to $185.00 and set an outperform rating on the stock in a report on Tuesday, July 31st. They noted that the move was a valuation call. Deutsche Bank set a $177.00 target price on Caterpillar and gave the company a buy rating in a report on Wednesday, September 5th. Finally, CIBC initiated coverage on Caterpillar in a report on Friday, September 7th. They set a market perform rating on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $171.08.
NYSE CAT traded up $1.10 on Thursday, hitting $142.07. 5,580,086 shares of the company’s stock were exchanged, compared to its average volume of 5,137,398. The stock has a market capitalization of $90.63 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.84 and a beta of 1.37. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.59. Caterpillar has a fifty-two week low of $129.20 and a fifty-two week high of $173.24.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.24. The business had revenue of $14.01 billion for the quarter, compared to analysts’ expectations of $14.09 billion. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. Equities analysts forecast that Caterpillar will post 11.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s dividend payout ratio (DPR) is presently 50.00%.
In other Caterpillar news, insider Denise C. Johnson sold 35,051 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the transaction, the insider now directly owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.
Several institutional investors have recently made changes to their positions in CAT. LSV Asset Management grew its stake in shares of Caterpillar by 93.2% during the first quarter. LSV Asset Management now owns 8,500 shares of the industrial products company’s stock valued at $1,252,000 after acquiring an additional 4,100 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in Caterpillar in the first quarter worth about $459,000. Oppenheimer Asset Management Inc. grew its stake in Caterpillar by 62.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 12,001 shares of the industrial products company’s stock worth $1,769,000 after purchasing an additional 4,629 shares in the last quarter. Fairfield Bush & CO. grew its stake in Caterpillar by 10.0% in the first quarter. Fairfield Bush & CO. now owns 6,600 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 600 shares in the last quarter. Finally, Lee Financial Co grew its stake in Caterpillar by 365.1% in the first quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 639 shares in the last quarter. Institutional investors own 66.63% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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