Caterpillar (NYSE:CAT) Given New $700.00 Price Target at Jefferies Financial Group

Caterpillar (NYSE:CAT) had its target price increased by Jefferies Financial Group from $570.00 to $700.00 in a research note released on Wednesday,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. UBS Group raised their price target on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Royal Bank Of Canada assumed coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Finally, Oppenheimer increased their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $596.59.

Caterpillar Trading Down 1.2%

CAT stock traded down $6.96 during midday trading on Wednesday, reaching $562.82. The company’s stock had a trading volume of 2,318,624 shares, compared to its average volume of 2,807,406. Caterpillar has a 1 year low of $267.30 and a 1 year high of $596.21. The firm has a market capitalization of $263.39 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51. The stock has a fifty day simple moving average of $491.77 and a two-hundred day simple moving average of $417.84. 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 (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.17 earnings per share. On average, equities research analysts predict that Caterpillar will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Insider Activity at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the transaction, the chairman owned 448,173 shares in the company, valued at approximately $226,457,335.17. This represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Maclennan acquired 300 shares of the stock in a transaction dated Thursday, November 6th. The shares were bought at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the purchase, the director directly owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 71,823 shares of company stock worth $34,477,790 in the last 90 days. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently bought and sold shares of CAT. Valeo Financial Advisors LLC lifted its holdings in shares of Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after buying an additional 7,279,991 shares during the period. Norges Bank purchased a new stake in Caterpillar in the 2nd quarter worth approximately $2,165,899,000. Massachusetts Financial Services Co. MA grew its stake in shares of Caterpillar by 1,851.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock worth $873,382,000 after purchasing an additional 1,736,631 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the period. Finally, Nuveen LLC purchased a new stake in Caterpillar during the first quarter worth $391,788,000. Institutional investors and hedge funds 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.