Stifel Nicolaus reissued their hold rating on shares of Caterpillar (NYSE:CAT) in a research note issued to investors on Monday, Marketbeat.com reports. Stifel Nicolaus currently has a $174.00 price objective on the industrial products company’s stock, down from their prior price objective of $176.00.
Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Caterpillar from a c+ rating to an a- rating in a research note on Tuesday, April 24th. Berenberg Bank assumed coverage on shares of Caterpillar in a research note on Thursday, January 18th. They issued a buy rating and a $200.00 target price on the stock. UBS raised their price target on shares of Caterpillar from $180.00 to $190.00 and gave the stock a buy rating in a research report on Friday, January 26th. Bank of America raised their price target on shares of Caterpillar from $189.00 to $192.00 and gave the stock a buy rating in a research report on Friday, January 26th. Finally, Seaport Global Securities upgraded shares of Caterpillar from a neutral rating to a buy rating and raised their price target for the stock from $170.90 to $195.00 in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Caterpillar currently has a consensus rating of Buy and a consensus price target of $172.55.
Caterpillar opened at $153.69 on Monday, Marketbeat.com reports. Caterpillar has a 1 year low of $152.50 and a 1 year high of $153.85. The company has a current ratio of 1.36, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $91.96 billion, a P/E ratio of 18.27, a PEG ratio of 1.08 and a beta of 1.31.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.71. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The business had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.99 billion. During the same period last year, the business posted $1.28 EPS. Caterpillar’s revenue was up 30.9% compared to the same quarter last year. research analysts forecast that Caterpillar will post 10.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, May 19th. Stockholders of record on Monday, April 23rd will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, April 20th. Caterpillar’s payout ratio is 45.35%.
In other news, CFO Joseph E. Creed sold 4,532 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $155.67, for a total transaction of $705,496.44. Following the completion of the transaction, the chief financial officer now directly owns 2,554 shares of the company’s stock, valued at approximately $397,581.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas A. Pellette sold 54,481 shares of the firm’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $150.17, for a total transaction of $8,181,411.77. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Gables Capital Management Inc. bought a new position in Caterpillar during the 1st quarter valued at about $1,374,000. Atlantic Trust Group LLC lifted its holdings in Caterpillar by 17.4% during the 1st quarter. Atlantic Trust Group LLC now owns 41,731 shares of the industrial products company’s stock valued at $6,151,000 after purchasing an additional 6,180 shares during the last quarter. Nvwm LLC lifted its holdings in Caterpillar by 7.9% during the 1st quarter. Nvwm LLC now owns 5,533 shares of the industrial products company’s stock valued at $796,000 after purchasing an additional 407 shares during the last quarter. Lara May & Associates LLC bought a new position in Caterpillar during the 1st quarter valued at about $254,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Caterpillar by 1,057.0% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 131,900 shares of the industrial products company’s stock valued at $19,439,000 after purchasing an additional 120,500 shares during the last quarter. 69.57% of the stock is owned by institutional investors.
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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