Caterpillar (NYSE:CAT) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Caterpillar (NYSE:CAT) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Citigroup raised their price target on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. Robert W. Baird lifted their target price on Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Truist Financial reiterated a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Jefferies Financial Group raised their price objective on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $588.94.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $569.51 on Thursday. The business’s 50-day simple moving average is $488.91 and its 200 day simple moving average is $415.91. The company has a market cap of $266.80 billion, a P/E ratio of 29.24, a PEG ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. Caterpillar has a one year low of $267.30 and a one year high of $596.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the prior year, the business earned $5.17 EPS. Caterpillar’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is 31.01%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Schaupp sold 1,200 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares in the company, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 57,185 shares of company stock worth $26,245,964. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. WealthShield Partners LLC grew its holdings in Caterpillar by 1.6% in the 3rd quarter. WealthShield Partners LLC now owns 1,122 shares of the industrial products company’s stock worth $535,000 after buying an additional 18 shares in the last quarter. one8zero8 LLC increased its holdings in shares of Caterpillar by 3.2% during the third quarter. one8zero8 LLC now owns 619 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 19 shares during the period. Abacus Planning Group Inc. raised its stake in shares of Caterpillar by 0.6% during the third quarter. Abacus Planning Group Inc. now owns 3,214 shares of the industrial products company’s stock valued at $1,534,000 after purchasing an additional 20 shares in the last quarter. Cyr Financial Inc. lifted its holdings in Caterpillar by 2.5% in the third quarter. Cyr Financial Inc. now owns 811 shares of the industrial products company’s stock worth $387,000 after purchasing an additional 20 shares during the period. Finally, Coastwise Capital Group LLC grew its position in Caterpillar by 1.8% in the 3rd quarter. Coastwise Capital Group LLC now owns 1,168 shares of the industrial products company’s stock valued at $557,000 after buying an additional 21 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.