Caterpillar Inc. (CAT) Price Target Raised to $90.00
Caterpillar Inc. (NYSE:CAT) had its price objective raised by Barclays PLC from $78.00 to $90.00 in a research note released on Wednesday morning. They currently have an equal weight rating on the stock.
Several other equities analysts have also commented on the stock. Vetr upgraded shares of Caterpillar from a hold rating to a buy rating and set a $96.01 price target for the company in a research report on Wednesday, October 12th. Jefferies Group increased their target price on shares of Caterpillar from $72.00 to $80.00 and gave the company a hold rating in a research report on Tuesday, October 11th. Goldman Sachs Group Inc. upgraded shares of Caterpillar from a neutral rating to a buy rating and increased their target price for the company from $76.00 to $112.00 in a research report on Tuesday, October 11th. Zacks Investment Research lowered shares of Caterpillar from a buy rating to a hold rating in a research report on Tuesday, October 4th. Finally, Bank of America Corp. reiterated a hold rating and issued a $92.00 target price on shares of Caterpillar in a research report on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $76.48.
Shares of Caterpillar (NYSE:CAT) opened at 87.67 on Wednesday. Caterpillar has a one year low of $56.36 and a one year high of $89.87. The stock has a market capitalization of $51.22 billion, a P/E ratio of 58.45 and a beta of 1.54. The stock’s 50 day moving average is $84.36 and its 200-day moving average is $79.01.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the 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 net margin of 2.64% and a return on equity of 12.37%. The company’s quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. On average, equities research analysts expect that Caterpillar will post $3.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be given a $0.77 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $3.08 annualized dividend and a dividend yield of 3.51%. Caterpillar’s dividend payout ratio is 165.59%.
In other Caterpillar news, Director Dennis A. Muilenburg acquired 1,930 shares of Caterpillar stock in a transaction dated Friday, July 29th. The stock was bought at an average cost of $82.75 per share, with a total value of $159,707.50. Following the completion of the transaction, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the 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 sale, the insider now directly owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of CAT. Spirit of America Management Corp NY boosted its stake in Caterpillar by 81.7% in the third quarter. Spirit of America Management Corp NY now owns 5,450 shares of the company’s stock valued at $484,000 after buying an additional 2,450 shares in the last quarter. Pennsylvania Trust Co boosted its stake in Caterpillar by 4.5% in the third quarter. Pennsylvania Trust Co now owns 13,037 shares of the company’s stock valued at $1,157,000 after buying an additional 566 shares in the last quarter. National Pension Service boosted its stake in Caterpillar by 8.6% in the third quarter. National Pension Service now owns 379,939 shares of the company’s stock valued at $33,727,000 after buying an additional 30,246 shares in the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in Caterpillar during the third quarter valued at $220,000. Finally, Private Trust Co. NA boosted its stake in Caterpillar by 44.8% in the third quarter. Private Trust Co. NA now owns 6,812 shares of the company’s stock valued at $604,000 after buying an additional 2,107 shares in the last quarter. 68.99% of the stock is owned by institutional investors.
Caterpillar Company Profile
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.
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.