Several other analysts have also recently issued reports on CAT. Jefferies Group reiterated a hold rating and issued a $69.00 target price on shares of Caterpillar in a research note on Tuesday, June 21st. Vetr cut shares of Caterpillar from a buy rating to a hold rating and set a $80.38 target price on the stock. in a research note on Thursday, June 23rd. Zacks Investment Research lowered shares of Caterpillar from a hold rating to a sell rating in a report on Thursday, June 30th. Credit Suisse Group AG reissued a buy rating and issued a $87.00 price target on shares of Caterpillar in a report on Wednesday, July 13th. Finally, Royal Bank Of Canada increased their price target on shares of Caterpillar from $70.00 to $73.00 and gave the stock a sector perform rating in a report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. Caterpillar currently has an average rating of Hold and an average target price of $76.48.
Caterpillar (NYSE:CAT) opened at 87.29 on Wednesday. The stock’s 50 day moving average is $84.49 and its 200-day moving average is $79.13. Caterpillar has a one year low of $56.36 and a one year high of $89.87. The firm has a market cap of $51.00 billion, a price-to-earnings ratio of 58.19 and a beta of 1.54.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the prior year, the company posted $1.27 EPS. The business’s revenue for the quarter was down 16.0% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar will post $3.50 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be paid a $0.77 dividend. The ex-dividend date is Thursday, October 20th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.53%. Caterpillar’s dividend payout ratio is presently 165.59%.
In other news, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis A. Muilenburg purchased 1,930 shares of Caterpillar stock in a transaction dated Friday, July 29th. The stock was bought at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now directly owns 9,558 shares of the company’s stock, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Caterpillar by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,404,617 shares of the company’s stock worth $2,684,024,000 after buying an additional 832,572 shares in the last quarter. State Farm Mutual Automobile Insurance Co. raised its stake in shares of Caterpillar by 1.1% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 21,017,733 shares of the company’s stock worth $1,608,697,000 after buying an additional 220,600 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Caterpillar by 1.3% in the second quarter. Capital Research Global Investors now owns 16,596,856 shares of the company’s stock worth $1,258,208,000 after buying an additional 218,191 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Caterpillar by 3.0% in the second quarter. BlackRock Fund Advisors now owns 10,129,304 shares of the company’s stock worth $767,903,000 after buying an additional 299,454 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock worth $659,404,000 after buying an additional 6,557,618 shares in the last quarter. Hedge funds and other institutional investors own 68.99% of the company’s stock.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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