Vetr upgraded shares of Caterpillar, Inc. (NYSE:CAT) from a sell rating to a hold rating in a research report sent to investors on Monday morning. The firm currently has $135.41 target price on the industrial products company’s stock.
CAT has been the topic of several other research reports. Atlantic Securities upgraded Caterpillar from an underweight rating to a neutral rating and upped their price target for the stock from $85.00 to $115.00 in a research note on Thursday, August 3rd. Argus restated a buy rating and issued a $113.10 price target (down previously from $130.00) on shares of Caterpillar in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a hold rating and issued a $120.00 price target (up previously from $100.00) on shares of Caterpillar in a research note on Wednesday, July 26th. ValuEngine downgraded Caterpillar from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, Wells Fargo & Company set a $150.00 price target on Caterpillar and gave the stock a buy rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $133.92.
Caterpillar (CAT) traded up $0.05 during mid-day trading on Monday, hitting $136.53. The company’s stock had a trading volume of 1,894,100 shares, compared to its average volume of 4,454,419. Caterpillar has a 1 year low of $90.34 and a 1 year high of $140.44. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. The stock has a market cap of $81,830.00, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. research analysts forecast that Caterpillar will post 6.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be paid a $0.78 dividend. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.29%. Caterpillar’s payout ratio is presently 216.67%.
In other Caterpillar news, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the sale, the director now owns 6,554 shares in the company, valued at approximately $898,487.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Several institutional investors have recently modified their holdings of CAT. Quadrant Capital Group LLC grew its position in shares of Caterpillar by 10.6% during the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new position in shares of Caterpillar during the second quarter valued at about $104,000. Motco grew its position in shares of Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Caterpillar during the first quarter valued at about $107,000. Finally, Acrospire Investment Management LLC grew its position in shares of Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.
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