Caterpillar Inc. (CAT) Stock Rating Lowered by Vetr Inc.
Caterpillar Inc. (NYSE:CAT) was downgraded by equities researchers at Vetr from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday. They presently have a $82.00 target price on the stock. Vetr‘s target price indicates a potential downside of 13.17% from the stock’s current price.
A number of other research analysts also recently weighed in on the stock. RBC Capital Markets set a $73.00 price objective on shares of Caterpillar and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Jefferies Group reiterated a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 3rd. TheStreet upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Royal Bank Of Canada upped their price objective on shares of Caterpillar from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Finally, Barclays PLC upped their price objective on shares of Caterpillar from $78.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 12th. Three equities 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 stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.26.
Caterpillar (NYSE:CAT) opened at 94.44 on Monday. Caterpillar has a 52-week low of $56.36 and a 52-week high of $94.95. The stock has a market cap of $55.25 billion, a price-to-earnings ratio of 91.87 and a beta of 1.30. The company has a 50-day moving average price of $86.25 and a 200 day moving average price of $80.23.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. Caterpillar had a net margin of 2.54% and a return on equity of 12.79%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.91 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was down 16.4% on a year-over-year basis. On average, analysts expect that Caterpillar will post $3.26 earnings per share for the current 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. The ex-dividend date is Thursday, October 20th. This represents a $3.08 annualized dividend and a yield of 3.26%. Caterpillar’s dividend payout ratio is presently 179.07%.
In other Caterpillar news, Director Daniel M. Dickinson sold 950 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $93.52, for a total value of $88,844.00. Following the completion of the transaction, the director now owns 17,476 shares of the company’s stock, valued at approximately $1,634,355.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Patten Group Inc. raised its stake in shares of Caterpillar by 0.4% in the third quarter. Patten Group Inc. now owns 1,148 shares of the company’s stock worth $100,000 after buying an additional 5 shares during the last quarter. American Money Management LLC raised its stake in shares of Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock worth $291,000 after buying an additional 11 shares during the last quarter. Pitcairn Co. raised its stake in shares of Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock worth $250,000 after buying an additional 14 shares during the last quarter. Steinberg Global Asset Management raised its stake in shares of Caterpillar by 0.5% in the third quarter. Steinberg Global Asset Management now owns 3,042 shares of the company’s stock worth $270,000 after buying an additional 15 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Caterpillar by 1.3% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,533 shares of the company’s stock worth $135,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 69.32% 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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