Vetr upgraded shares of Caterpillar Inc. (NYSE:CAT) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $96.01 price target on the stock.
A number of other brokerages have also recently commented on CAT. RBC Capital Markets set a $73.00 target price on Caterpillar and gave the company a hold rating in a report on Wednesday, July 27th. Morgan Stanley reaffirmed a hold rating and issued a $67.00 price target on shares of Caterpillar in a report on Thursday, July 28th. Zacks Investment Research cut Caterpillar from a hold rating to a sell rating in a report on Thursday, June 30th. Citigroup Inc. set a $82.00 price target on Caterpillar and gave the company a hold rating in a report on Tuesday, August 16th. Finally, Bank of America Corp. reaffirmed a hold rating and issued a $92.00 price target on shares of Caterpillar in a report on Monday, October 3rd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. Caterpillar currently has an average rating of Hold and an average price target of $76.48.
Caterpillar (NYSE:CAT) opened at 87.58 on Wednesday. The stock has a market cap of $51.17 billion, a PE ratio of 58.39 and a beta of 1.54. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.87. The company’s 50-day moving average price is $84.11 and its 200-day moving average price is $78.87.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The business earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The business’s revenue was down 16.0% compared to the same quarter last year. On average, equities analysts expect that Caterpillar will post $3.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, November 19th. Shareholders of record on Monday, October 24th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, October 20th. Caterpillar’s dividend payout ratio is presently 165.59%.
In other Caterpillar news, Director Dennis A. Muilenburg acquired 1,930 shares of the stock in a transaction on Friday, July 29th. The shares were bought at an average price of $82.75 per share, with a total value of $159,707.50. Following the acquisition, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its stake in shares of Caterpillar by 503.0% in the first quarter. Bessemer Group Inc. now owns 80,341 shares of the company’s stock worth $6,150,000 after buying an additional 67,018 shares in the last quarter. Advisor Partners LLC raised its stake in shares of Caterpillar by 76.8% in the first quarter. Advisor Partners LLC now owns 8,927 shares of the company’s stock worth $683,000 after buying an additional 3,877 shares in the last quarter. King Wealth Management Group LLC acquired a new stake in shares of Caterpillar during the first quarter worth $291,000. Smith Moore & CO. acquired a new stake in shares of Caterpillar during the first quarter worth $574,000. Finally, AMF Pensionsforsakring AB raised its stake in shares of Caterpillar by 65.9% in the first quarter. AMF Pensionsforsakring AB now owns 131,880 shares of the company’s stock worth $10,094,000 after buying an additional 52,400 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.