Caterpillar Inc. (CAT) Stock Rating Upgraded by Vetr Inc.
Caterpillar Inc. (NYSE:CAT) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $96.01 target price on the stock. Vetr‘s price objective would suggest a potential upside of 10.39% from the company’s current price.
Other research analysts have also issued reports about the company. TheStreet raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $87.00 target price on shares of Caterpillar in a research report on Wednesday, July 13th. Deutsche Bank AG initiated coverage on Caterpillar in a research report on Tuesday, September 6th. They set a “buy” rating and a $72.56 target price for the company. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. raised Caterpillar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $112.00 in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $76.48.
Shares of Caterpillar (NYSE:CAT) opened at 86.97 on Wednesday. The stock has a market capitalization of $50.81 billion, a P/E ratio of 57.98 and a beta of 1.54. Caterpillar has a 52 week low of $56.36 and a 52 week high of $89.87. The company has a 50-day moving average price of $84.22 and a 200 day moving average price of $78.93.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The business earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. Caterpillar’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. Analysts forecast that Caterpillar will post $3.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, November 19th. Investors of record on Monday, October 24th will be paid a $0.77 dividend. The ex-dividend date is Thursday, October 20th. This represents a $3.08 dividend on an annualized basis and a yield of 3.54%. Caterpillar’s dividend payout ratio is 165.59%.
In related news, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the transaction, the insider now directly owns 20,232 shares in the company, valued at approximately $1,673,793.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis A. Muilenburg acquired 1,930 shares of Caterpillar stock in a transaction that occurred on Friday, July 29th. The stock was acquired at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now directly owns 9,558 shares in the company, valued at approximately $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Caterpillar by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,404,617 shares of the company’s stock worth $2,684,024,000 after buying an additional 832,572 shares in the last quarter. State Farm Mutual Automobile Insurance Co. raised its position in Caterpillar by 1.1% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 21,017,733 shares of the company’s stock worth $1,608,697,000 after buying an additional 220,600 shares during the period. Capital Research Global Investors raised its position in Caterpillar by 1.3% in the second quarter. Capital Research Global Investors now owns 16,596,856 shares of the company’s stock worth $1,258,208,000 after buying an additional 218,191 shares during the period. BlackRock Fund Advisors raised its position in Caterpillar by 3.0% in the second quarter. BlackRock Fund Advisors now owns 10,129,304 shares of the company’s stock worth $767,903,000 after buying an additional 299,454 shares during the period. Finally, FMR LLC raised its position in Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock worth $659,404,000 after buying an additional 6,557,618 shares during the period. Institutional investors and hedge funds own 69.03% of the company’s stock.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.