Analysts Set Caterpillar Inc. (NYSE:CAT) PT at $377.83

Shares of Caterpillar Inc. (NYSE:CAT) have received a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $375.50.

A number of analysts have weighed in on CAT shares. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wedbush upgraded Caterpillar to an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Finally, Robert W. Baird upgraded Caterpillar from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th.

Caterpillar Stock Up 1.1%

Shares of NYSE:CAT opened at $353.60 on Wednesday. Caterpillar has a 52-week low of $267.30 and a 52-week high of $418.50. The stock has a market cap of $166.56 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The business’s 50 day moving average is $317.42 and its 200 day moving average is $353.76. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $5.60 EPS. Sell-side analysts predict that Caterpillar will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caterpillar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after purchasing an additional 284,366 shares during the period. Geode Capital Management LLC grew its position in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock worth $3,790,841,000 after purchasing an additional 236,315 shares during the period. Fisher Asset Management LLC grew its position in Caterpillar by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock worth $3,294,505,000 after purchasing an additional 129,143 shares during the period. Northern Trust Corp grew its position in Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock worth $2,483,937,000 after purchasing an additional 724,477 shares during the period. Finally, Norges Bank acquired a new stake in Caterpillar during the 4th quarter worth about $2,184,364,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Company Profile

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.