BMO Capital Markets Lowers Caterpillar (NYSE:CAT) Price Target to $160.00

Caterpillar (NYSE:CAT) had its price target reduced by BMO Capital Markets to $160.00 in a report published on Monday, February 4th, The Fly reports. They currently have an outperform rating on the industrial products company’s stock.

CAT has been the topic of a number of other reports. Bank of America upgraded Caterpillar from a neutral rating to a buy rating and boosted their price objective for the company from $140.00 to $163.00 in a research report on Monday, December 3rd. Zacks Investment Research cut Caterpillar from a hold rating to a sell rating in a research report on Monday, December 31st. Cleveland Research restated a hold rating on shares of Caterpillar in a research report on Friday, October 19th. Standpoint Research raised Caterpillar from a sell rating to an accumulate rating and set a $117.85 price target on the stock in a research note on Wednesday, December 26th. Finally, Morgan Stanley set a $169.00 price target on Caterpillar and gave the company a buy rating in a research note on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Caterpillar has an average rating of Hold and a consensus target price of $150.24.

Shares of CAT traded up $0.13 on Monday, reaching $137.47. 3,810,192 shares of the stock traded hands, compared to its average volume of 5,125,411. The stock has a market cap of $79.82 billion, a PE ratio of 12.25, a P/E/G ratio of 0.62 and a beta of 1.46. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.78. Caterpillar has a 12 month low of $112.06 and a 12 month high of $161.60.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, January 28th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.43). The firm had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $14.36 billion. Caterpillar had a net margin of 11.23% and a return on equity of 45.31%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Equities analysts forecast that Caterpillar will post 12.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Shareholders of record on Tuesday, January 22nd were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, January 18th. Caterpillar’s dividend payout ratio is currently 30.66%.

A number of institutional investors have recently bought and sold shares of CAT. Oregon Public Employees Retirement Fund increased its holdings in Caterpillar by 6,835.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 8,923,946 shares during the last quarter. Sanders Capital LLC bought a new stake in shares of Caterpillar in the fourth quarter worth about $422,262,000. Capital Research Global Investors increased its holdings in shares of Caterpillar by 289.4% in the third quarter. Capital Research Global Investors now owns 3,934,537 shares of the industrial products company’s stock worth $599,978,000 after acquiring an additional 2,924,169 shares in the last quarter. Harris Associates L P increased its holdings in shares of Caterpillar by 38.8% in the fourth quarter. Harris Associates L P now owns 3,529,388 shares of the industrial products company’s stock worth $448,479,000 after acquiring an additional 987,103 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Caterpillar by 3,805.2% in the fourth quarter. LSV Asset Management now owns 620,926 shares of the industrial products company’s stock worth $78,901,000 after acquiring an additional 605,026 shares in the last quarter. 66.58% of the stock is currently owned by institutional investors.

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.

Further Reading: Cost of Equity For A Business, Investors

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