Caterpillar (CAT) Upgraded to Strong-Buy by Vetr
Vetr upgraded shares of Caterpillar (NYSE:CAT) from a buy rating to a strong-buy rating in a report released on Monday. They currently have $170.44 price objective on the industrial products company’s stock.
A number of other equities research analysts have also commented on the company. BMO Capital Markets upped their price target on Caterpillar from $150.00 to $165.00 and gave the company an outperform rating in a research report on Thursday, October 26th. Citigroup upped their price target on Caterpillar from $145.00 to $160.00 and gave the company a neutral rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. upgraded Caterpillar from a neutral rating to an overweight rating and upped their price target for the company from $161.96 to $200.00 in a research report on Monday, January 8th. Goldman Sachs Group upped their price target on Caterpillar from $143.00 to $158.00 and gave the company a buy rating in a research report on Monday, October 9th. Finally, OTR Global lowered Caterpillar to a positive rating in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $167.80.
Shares of Caterpillar (NYSE:CAT) opened at $154.34 on Monday. The firm has a market capitalization of $91,820.00, a price-to-earnings ratio of 122.49, a P/E/G ratio of 1.62 and a beta of 1.22. Caterpillar has a 52-week low of $90.34 and a 52-week high of $173.24. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 2.02%. Caterpillar’s payout ratio is 247.62%.
In related news, insider Thomas A. Pellette sold 24,547 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $135.69, for a total transaction of $3,330,782.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bradley M. Halverson sold 17,210 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total value of $2,363,449.30. Following the sale, the chief financial officer now owns 7,814 shares in the company, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,331 shares of company stock worth $22,107,578. 0.14% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Beach Investment Management LLC. acquired a new position in Caterpillar during the 2nd quarter worth approximately $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Caterpillar by 9.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock worth $5,995,000 after buying an additional 4,291 shares during the period. Wealthsource Partners LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $316,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Caterpillar by 18.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,100 shares of the industrial products company’s stock worth $18,979,000 after buying an additional 23,749 shares during the period. Finally, FMR LLC raised its stake in Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after buying an additional 2,052,300 shares during the period. Institutional investors own 69.25% of the company’s stock.
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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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
To view Vetr’s full report, visit Vetr’s official website.
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