Shares of Caterpillar Inc. (NYSE:CAT – Get Free Report) have been given a consensus rating of “Moderate Buy” by the twenty-five research firms that are covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $980.5714.
Several analysts have recently issued reports on CAT shares. Sanford C. Bernstein upped their target price on shares of Caterpillar from $769.00 to $879.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Truist Financial raised their price objective on Caterpillar from $1,043.00 to $1,218.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Oppenheimer boosted their target price on Caterpillar from $980.00 to $1,105.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Wall Street Zen upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd.
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Insider Transactions at Caterpillar
Institutional Investors Weigh In On Caterpillar
A number of institutional investors and hedge funds have recently modified their holdings of CAT. Axxcess Wealth Management LLC boosted its stake in shares of Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock valued at $12,844,000 after purchasing an additional 604 shares during the period. Juno Financial Group LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $877,000. DSG Capital Advisors LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $1,226,000. Cornerstone Planning LLC purchased a new position in Caterpillar in the 4th quarter valued at approximately $4,517,000. Finally, Gotham Asset Management LLC boosted its position in Caterpillar by 19.1% in the 3rd quarter. Gotham Asset Management LLC now owns 116,589 shares of the industrial products company’s stock valued at $55,630,000 after buying an additional 18,676 shares during the period. 70.98% of the stock is owned by institutional investors.
Caterpillar Trading Down 2.1%
CAT stock opened at $914.19 on Monday. The firm has a fifty day moving average price of $931.98 and a 200 day moving average price of $790.77. Caterpillar has a fifty-two week low of $403.32 and a fifty-two week high of $1,073.46. The firm has a market cap of $421.07 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 1.83 and a beta of 1.57. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35.
Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The company had revenue of $17.41 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the prior year, the firm earned $4.25 earnings per share. Caterpillar’s revenue was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that Caterpillar will post 24.85 earnings per share for the current fiscal year.
Caterpillar Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be paid a $1.63 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar’s payout ratio is currently 30.06%.
Caterpillar Company Profile
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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