BofA Securities upgraded shares of Caterpillar (NYSE:CAT) from an underperform rating to a neutral rating in a research note published on Wednesday, Briefing.com Automated Import reports.
CAT has been the topic of a number of other reports. Cfra reduced their target price on shares of Caterpillar from $120.00 to $101.00 and set a sell rating on the stock in a report on Tuesday, April 28th. Standpoint Research lowered shares of Caterpillar from a buy rating to a hold rating in a report on Tuesday, June 9th. UBS Group upped their target price on shares of Caterpillar from $112.00 to $130.00 and gave the company a neutral rating in a report on Thursday, June 11th. Zacks Investment Research lowered shares of Caterpillar from a hold rating to a strong sell rating and set a $130.00 target price on the stock. in a report on Tuesday, June 30th. Finally, BMO Capital Markets lowered shares of Caterpillar from an outperform rating to a market perform rating and set a $130.00 target price on the stock. in a report on Friday, June 12th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $134.79.
Shares of NYSE CAT opened at $127.23 on Wednesday. The stock has a market cap of $69.26 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.00 and a beta of 1.10. Caterpillar has a 52 week low of $87.50 and a 52 week high of $150.55. The company’s 50-day moving average price is $124.36 and its 200 day moving average price is $125.40. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 1.71.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $1.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.09). The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.98 billion. Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. Caterpillar’s revenue was down 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.94 earnings per share. As a group, research analysts expect that Caterpillar will post 5.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 20th will be issued a $1.03 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.12 annualized dividend and a yield of 3.24%. Caterpillar’s payout ratio is 37.25%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bogart Wealth LLC raised its holdings in Caterpillar by 1.3% in the second quarter. Bogart Wealth LLC now owns 20,854 shares of the industrial products company’s stock valued at $2,638,000 after buying an additional 267 shares during the period. Envestnet Asset Management Inc. raised its holdings in Caterpillar by 19.5% in the second quarter. Envestnet Asset Management Inc. now owns 314,688 shares of the industrial products company’s stock valued at $39,808,000 after buying an additional 51,365 shares during the period. Triangle Securities Wealth Management raised its holdings in Caterpillar by 9.3% in the second quarter. Triangle Securities Wealth Management now owns 10,411 shares of the industrial products company’s stock valued at $1,317,000 after buying an additional 888 shares during the period. Home Federal Bank of Tennessee acquired a new stake in Caterpillar in the second quarter valued at approximately $202,000. Finally, Murphy Middleton Hinkle & Parker Inc. grew its position in Caterpillar by 1.2% in the second quarter. Murphy Middleton Hinkle & Parker Inc. now owns 9,148 shares of the industrial products company’s stock valued at $1,157,000 after acquiring an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 64.07% of the company’s stock.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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