Oppenheimer started coverage on shares of Caterpillar (NYSE:CAT) in a research report sent to investors on Friday, MarketBeat reports. The firm issued a market perform rating on the industrial products company’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts have also issued reports on the stock. Deutsche Bank set a $177.00 target price on shares of Caterpillar and gave the company a buy rating in a report on Wednesday. UBS Group set a $185.00 price objective on shares of Caterpillar and gave the stock a buy rating in a report on Wednesday. Tigress Financial reiterated a buy rating on shares of Caterpillar in a report on Friday, August 17th. Argus cut their price objective on shares of Caterpillar from $185.00 to $165.00 and set a buy rating on the stock in a report on Monday, August 13th. Finally, Stifel Nicolaus cut their price objective on shares of Caterpillar from $174.00 to $168.00 and set a hold rating on the stock in a report on Tuesday, August 7th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Caterpillar has a consensus rating of Buy and an average price target of $172.22.

NYSE:CAT traded down $0.25 on Friday, reaching $141.32. The stock had a trading volume of 4,007,163 shares, compared to its average volume of 4,017,784. The firm has a market cap of $84.14 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.37. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.59. Caterpillar has a 12-month low of $117.00 and a 12-month high of $173.24.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.24. The company had revenue of $14.01 billion for the quarter, compared to analyst estimates of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. equities research analysts forecast that Caterpillar will post 11.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Friday, July 20th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. Caterpillar’s dividend payout ratio is 50.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of CAT. Cornerstone Wealth Management LLC increased its position in Caterpillar by 13,856.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,253,525 shares of the industrial products company’s stock worth $9,194,000 after purchasing an additional 1,244,543 shares in the last quarter. Advisors Asset Management Inc. increased its position in Caterpillar by 870.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,129,502 shares of the industrial products company’s stock worth $7,679,000 after purchasing an additional 1,013,117 shares in the last quarter. Prudential Financial Inc. increased its position in Caterpillar by 99.6% during the 1st quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products company’s stock worth $293,415,000 after purchasing an additional 993,438 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Caterpillar during the 2nd quarter worth approximately $68,531,000. Finally, Summit Trail Advisors LLC grew its position in Caterpillar by 15,223.3% in the first quarter. Summit Trail Advisors LLC now owns 444,377 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 441,477 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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