Caterpillar (CAT) Given a $160.00 Price Target at UBS Group
UBS Group set a $160.00 price target on Caterpillar (NYSE:CAT) in a research note released on Thursday, www.tipranks.com reports. The firm currently has a buy rating on the industrial products company’s stock.
CAT has been the subject of a number of other research reports. Cleveland Research restated a hold rating on shares of Caterpillar in a report on Friday, October 19th. Citigroup upgraded shares of Caterpillar to an outperform rating in a report on Friday, September 21st. Morgan Stanley set a $169.00 price objective on shares of Caterpillar and gave the company a buy rating in a report on Wednesday, October 24th. Deutsche Bank set a $177.00 price objective on shares of Caterpillar and gave the company a buy rating in a report on Wednesday, September 5th. Finally, ValuEngine cut shares of Caterpillar from a hold rating to a sell rating in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Caterpillar has a consensus rating of Buy and a consensus target price of $158.55.
Shares of NYSE:CAT opened at $129.96 on Thursday. Caterpillar has a one year low of $112.06 and a one year high of $173.24. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. The company has a market cap of $76.69 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.72 and a beta of 1.58.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, October 19th. Caterpillar’s payout ratio is currently 50.00%.
In other news, insider Lange Bob De bought 1,080 shares of the stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the acquisition, the insider now owns 11,310 shares in the company, valued at $1,307,209.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Denise C. Johnson sold 35,051 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the transaction, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Management Inc. acquired a new position in Caterpillar during the third quarter worth $1,423,000. Nordea Investment Management AB increased its holdings in Caterpillar by 18.4% during the third quarter. Nordea Investment Management AB now owns 288,999 shares of the industrial products company’s stock worth $44,068,000 after buying an additional 44,862 shares during the last quarter. Beaton Management Co. Inc. increased its holdings in Caterpillar by 7.5% during the third quarter. Beaton Management Co. Inc. now owns 5,726 shares of the industrial products company’s stock worth $873,000 after buying an additional 400 shares during the last quarter. Kentucky Retirement Systems acquired a new position in Caterpillar during the third quarter worth $4,771,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in Caterpillar by 15.0% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 206,000 shares of the industrial products company’s stock worth $31,413,000 after buying an additional 26,800 shares during the last quarter. Institutional investors and hedge funds own 66.53% of the company’s stock.
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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