Caterpillar Inc. (CAT) Given New $80.00 Price Target at Jefferies Group
A number of other research analysts have also recently weighed in on CAT. Vetr cut shares of Caterpillar from a buy rating to a hold rating and set a $80.38 price objective for the company. in a report on Thursday, June 23rd. Zacks Investment Research cut shares of Caterpillar from a hold rating to a sell rating in a report on Thursday, June 30th. Credit Suisse Group AG restated a buy rating and issued a $87.00 price objective on shares of Caterpillar in a report on Wednesday, July 13th. Royal Bank Of Canada lifted their price objective on shares of Caterpillar from $70.00 to $73.00 and gave the company a sector perform rating in a report on Wednesday, July 27th. Finally, Citigroup Inc. lifted their price objective on shares of Caterpillar from $75.00 to $82.00 and gave the company a neutral rating in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $76.23.
Shares of Caterpillar (NYSE:CAT) traded up 0.03% on Tuesday, reaching $87.50. 1,407,570 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $84.01 and a 200 day moving average of $78.81. The firm has a market capitalization of $51.12 billion, a P/E ratio of 58.33 and a beta of 1.54. Caterpillar has a one year low of $56.36 and a one year high of $89.87.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. On average, equities research analysts predict that Caterpillar will post $3.50 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.52%. Caterpillar’s dividend payout ratio (DPR) is presently 165.59%.
In other news, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the transaction, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dennis A. Muilenburg purchased 1,930 shares of the stock in a transaction dated Friday, July 29th. The shares were bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the purchase, the director now owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Creative Planning boosted its position in Caterpillar by 0.8% in the third quarter. Creative Planning now owns 89,720 shares of the company’s stock worth $7,964,000 after buying an additional 714 shares during the period. Dynamic Advisors Solutions LLC raised its stake in Caterpillar by 84.5% in the third quarter. Dynamic Advisors Solutions LLC now owns 11,927 shares of the company’s stock valued at $1,059,000 after buying an additional 5,461 shares in the last quarter. Jacobs & Co. CA raised its stake in Caterpillar by 1.3% in the third quarter. Jacobs & Co. CA now owns 24,653 shares of the company’s stock valued at $2,188,000 after buying an additional 305 shares in the last quarter. Fisher Asset Management LLC raised its stake in Caterpillar by 3.8% in the third quarter. Fisher Asset Management LLC now owns 4,808 shares of the company’s stock valued at $427,000 after buying an additional 176 shares in the last quarter. Finally, City Holding Co. raised its stake in Caterpillar by 8.3% in the third quarter. City Holding Co. now owns 18,273 shares of the company’s stock valued at $1,622,000 after buying an additional 1,407 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
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.
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