Caterpillar Inc. (CAT) Price Target Increased to $80.00 by Analysts at Jefferies Group
Caterpillar Inc. (NYSE:CAT) had its target price boosted by Jefferies Group from $72.00 to $80.00 in a research note issued to investors on Tuesday morning. Jefferies Group currently has a hold rating on the stock.
A number of other research firms also recently issued reports on CAT. Vetr upgraded shares of Caterpillar from a sell rating to a hold rating and set a $88.01 target price for the company in a report on Thursday, October 6th. Bank of America Corp. reaffirmed a hold rating and set a $92.00 price target on shares of Caterpillar in a research report on Monday, October 3rd. Zacks Investment Research cut shares of Caterpillar from a buy rating to a hold rating in a research report on Tuesday, October 4th. Goldman Sachs Group Inc. raised shares of Caterpillar from a neutral rating to a buy rating and lifted their price target for the company from $76.00 to $112.00 in a research report on Tuesday, October 11th. Finally, Credit Suisse Group AG set a $90.00 price target on shares of Caterpillar and gave the company a buy rating in a research report on Wednesday, September 28th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $76.48.
Caterpillar (NYSE:CAT) opened at 87.67 on Tuesday. The company has a 50 day moving average of $84.36 and a 200-day moving average of $79.01. The stock has a market capitalization of $51.22 billion, a P/E ratio of 58.45 and a beta of 1.54. Caterpillar has a 52-week low of $56.36 and a 52-week high of $89.87.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The firm earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. Caterpillar’s revenue was down 16.0% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar will post $3.50 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Investors of record on Monday, October 24th will be given 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 3.51%. Caterpillar’s dividend payout ratio is presently 165.59%.
In related news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction dated 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 owns 20,232 shares in the company, valued at approximately $1,673,793.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis A. Muilenburg bought 1,930 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average price of $82.75 per share, with a total value of $159,707.50. Following the transaction, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Pittenger & Anderson Inc. increased its stake in shares of Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock worth $100,000 after buying an additional 25 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA increased its stake in shares of Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock worth $115,000 after buying an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Caterpillar by 266.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,513 shares of the company’s stock worth $115,000 after buying an additional 1,100 shares during the last quarter. CapWealth Advisors LLC increased its stake in shares of Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock worth $128,000 after buying an additional 100 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its stake in shares of Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock worth $128,000 after buying an additional 1,581 shares during the last quarter. 68.99% of the stock is owned by institutional investors.
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.
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