Caterpillar’s (CAT) Hold Rating Reaffirmed at Jefferies Group
Jefferies Group reissued their hold rating on shares of Caterpillar Inc. (NYSE:CAT) in a research report sent to investors on Tuesday morning. Jefferies Group currently has a $80.00 price objective on the stock.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Caterpillar from a buy rating to a hold rating in a research note on Tuesday, October 4th. Axiom Securities reiterated a sell rating on shares of Caterpillar in a research note on Tuesday, August 30th. Citigroup Inc. set a $82.00 price target on shares of Caterpillar and gave the stock a hold rating in a research note on Tuesday, August 16th. Credit Suisse Group AG set a $90.00 price target on shares of Caterpillar and gave the stock a buy rating in a research note on Wednesday, September 28th. Finally, Morgan Stanley reiterated a hold rating and set a $67.00 price target on shares of Caterpillar in a research note on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $76.48.
Shares of Caterpillar (NYSE:CAT) traded down 0.33% during mid-day trading on Tuesday, hitting $86.93. 530,646 shares of the stock traded hands. The firm’s 50 day moving average price is $84.61 and its 200 day moving average price is $79.21. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.87. The firm has a market cap of $50.79 billion, a price-to-earnings ratio of 57.95 and a beta of 1.54.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.13. The business 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 company’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 EPS. On average, equities research analysts predict that Caterpillar will post $3.50 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Shareholders of record on Monday, October 24th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.53%. The ex-dividend date is Thursday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 165.59%.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dennis A. Muilenburg purchased 1,930 shares of the company’s stock in a transaction on Friday, July 29th. The stock was acquired at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the transaction, the director now owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,404,617 shares of the company’s stock valued at $2,684,024,000 after buying an additional 832,572 shares during the period. State Farm Mutual Automobile Insurance Co. boosted its stake in shares of Caterpillar by 1.1% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 21,017,733 shares of the company’s stock valued at $1,608,697,000 after buying an additional 220,600 shares during the period. Capital Research Global Investors boosted its stake in shares of Caterpillar by 1.3% in the second quarter. Capital Research Global Investors now owns 16,596,856 shares of the company’s stock valued at $1,258,208,000 after buying an additional 218,191 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Caterpillar by 3.0% in the second quarter. BlackRock Fund Advisors now owns 10,129,304 shares of the company’s stock valued at $767,903,000 after buying an additional 299,454 shares during the period. Finally, FMR LLC boosted its stake in shares of Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock valued at $659,404,000 after buying an additional 6,557,618 shares during the period. Hedge funds and other institutional investors own 68.99% of the company’s stock.
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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