Caterpillar Inc. (CAT) Receives Average Recommendation of “Hold” from Brokerages
Caterpillar Inc. (NYSE:CAT) has been assigned a consensus recommendation of “Hold” from the twenty-five analysts that are covering the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $78.12.
CAT has been the subject of a number of recent analyst reports. Jefferies Group reiterated a “hold” rating on shares of Caterpillar in a report on Wednesday, August 3rd. Citigroup Inc. upped their price objective on Caterpillar from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Barclays PLC upped their price objective on Caterpillar from $78.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, October 12th. Vetr downgraded Caterpillar from a “hold” rating to a “sell” rating and set a $82.00 price objective for the company. in a report on Tuesday, November 8th. Finally, Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Tuesday, August 30th.
Shares of Caterpillar (NYSE:CAT) opened at 93.01 on Tuesday. Caterpillar has a one year low of $56.36 and a one year high of $94.95. The firm has a market capitalization of $54.42 billion, a price-to-earnings ratio of 90.48 and a beta of 1.30. The stock’s 50 day moving average price is $86.25 and its 200 day moving average price is $80.23.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The company earned $9.16 billion during the quarter, compared to the consensus estimate of $9.91 billion. Caterpillar had a return on equity of 12.79% and a net margin of 2.54%. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. Analysts expect that Caterpillar will post $3.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Shareholders of record on Monday, October 24th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, October 20th. Caterpillar’s dividend payout ratio is presently 179.07%.
Several large investors have recently modified their holdings of the stock. Citizens Financial Group Inc RI increased its stake in shares of Caterpillar by 16.0% in the third quarter. Citizens Financial Group Inc RI now owns 10,937 shares of the company’s stock worth $971,000 after buying an additional 1,506 shares in the last quarter. KCG Holdings Inc. increased its stake in shares of Caterpillar by 17.5% in the third quarter. KCG Holdings Inc. now owns 25,971 shares of the company’s stock worth $2,305,000 after buying an additional 3,868 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Caterpillar by 7.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 126,577 shares of the company’s stock worth $11,236,000 after buying an additional 8,560 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Caterpillar by 0.9% in the third quarter. Profund Advisors LLC now owns 22,437 shares of the company’s stock worth $1,992,000 after buying an additional 211 shares in the last quarter. Finally, Lincoln National Corp increased its stake in shares of Caterpillar by 4.9% in the third quarter. Lincoln National Corp now owns 3,841 shares of the company’s stock worth $341,000 after buying an additional 179 shares in the last quarter. 69.02% of the stock is currently owned by hedge funds and other institutional investors.
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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