Caterpillar (NYSE:CAT) Price Target Raised to $250.00

Caterpillar (NYSE:CAT) had its price objective raised by UBS Group from $235.00 to $250.00 in a research note released on Wednesday morning, Analyst Ratings Network reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities research analysts also recently commented on the stock. Cowen assumed coverage on shares of Caterpillar in a report on Thursday, October 14th. They set an outperform rating and a $241.00 price target for the company. Citigroup boosted their target price on shares of Caterpillar from $215.00 to $235.00 and gave the company a neutral rating in a report on Tuesday, October 12th. Credit Suisse Group boosted their target price on shares of Caterpillar from $239.00 to $240.00 and gave the company an outperform rating in a report on Friday, October 29th. Morgan Stanley lowered their target price on shares of Caterpillar from $166.00 to $164.00 and set an underweight rating for the company in a report on Thursday, December 9th. Finally, Evercore ISI lowered their target price on shares of Caterpillar from $291.00 to $257.00 and set an outperform rating for the company in a report on Thursday, October 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $236.89.

Shares of NYSE CAT opened at $228.94 on Wednesday. The company has a market cap of $123.84 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. Caterpillar has a 12 month low of $179.34 and a 12 month high of $246.69. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.61 and a quick ratio of 1.09. The company has a 50-day simple moving average of $206.45 and a 200-day simple moving average of $206.14.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, October 28th. The industrial products company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.40. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $12.46 billion. Caterpillar had a net margin of 10.64% and a return on equity of 34.41%. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 earnings per share. On average, analysts anticipate that Caterpillar will post 10.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 18th. Stockholders of record on Thursday, January 20th will be given a dividend of $1.11 per share. The ex-dividend date is Wednesday, January 19th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.94%. Caterpillar’s payout ratio is currently 47.49%.

In other news, insider Joseph E. Creed sold 5,038 shares of the business’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $204.09, for a total transaction of $1,028,205.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Haverford Trust Co. increased its stake in shares of Caterpillar by 0.4% in the second quarter. Haverford Trust Co. now owns 12,714 shares of the industrial products company’s stock worth $2,767,000 after buying an additional 48 shares during the last quarter. Assetmark Inc. increased its stake in shares of Caterpillar by 6.1% in the second quarter. Assetmark Inc. now owns 829 shares of the industrial products company’s stock worth $180,000 after buying an additional 48 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Caterpillar by 8.0% in the third quarter. SRS Capital Advisors Inc. now owns 663 shares of the industrial products company’s stock worth $127,000 after buying an additional 49 shares during the last quarter. Bar Harbor Trust Services increased its stake in shares of Caterpillar by 4.7% in the second quarter. Bar Harbor Trust Services now owns 1,125 shares of the industrial products company’s stock worth $245,000 after buying an additional 50 shares during the last quarter. Finally, Malaga Cove Capital LLC increased its stake in shares of Caterpillar by 0.3% in the third quarter. Malaga Cove Capital LLC now owns 16,769 shares of the industrial products company’s stock worth $3,219,000 after buying an additional 50 shares during the last quarter. 67.22% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Company Profile

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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Analyst Recommendations for Caterpillar (NYSE:CAT)

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