Caterpillar Inc. (CAT) Stock Rating Upgraded by OTR Global
Caterpillar Inc. (NYSE:CAT) was upgraded by analysts at OTR Global to a “positive” rating in a note issued to investors on Friday.
Other equities research analysts have also issued research reports about the stock. TheStreet raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Deutsche Bank AG initiated coverage on shares of Caterpillar in a report on Tuesday, September 6th. They issued a “buy” rating and a $72.56 target price on the stock. Vetr raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $85.19 price objective on the stock in a report on Tuesday, September 13th. Credit Suisse Group AG reissued a “buy” rating on shares of Caterpillar in a report on Thursday, September 22nd. Finally, Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, September 27th. Three 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’s stock. The company currently has an average rating of “Hold” and an average price target of $78.26.
Caterpillar (NYSE:CAT) opened at 92.90 on Friday. The stock has a 50 day moving average of $87.62 and a 200 day moving average of $81.00. Caterpillar has a 52-week low of $56.36 and a 52-week high of $95.50. The stock has a market capitalization of $54.35 billion, a P/E ratio of 90.37 and a beta of 1.30.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.91 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s quarterly revenue was down 16.4% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar will post $3.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, November 19th. Stockholders of record on Monday, October 24th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $3.08 annualized dividend and a dividend yield of 3.32%. Caterpillar’s dividend payout ratio is currently 179.07%.
In other 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 transaction of $88,844.00. Following the completion of the transaction, the director now directly owns 17,476 shares of the company’s stock, valued at approximately $1,634,355.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. boosted its position in shares of Caterpillar by 36.6% in the third quarter. D.A. Davidson & CO. now owns 53,489 shares of the company’s stock valued at $4,747,000 after buying an additional 14,328 shares in the last quarter. Whalerock Point Partners LLC acquired a new position in shares of Caterpillar during the third quarter valued at $1,379,000. Piedmont Investment Advisors LLC acquired a new position in shares of Caterpillar during the third quarter valued at $10,194,000. Price T Rowe Associates Inc. MD boosted its position in shares of Caterpillar by 1.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,138,582 shares of the company’s stock valued at $101,072,000 after buying an additional 16,590 shares in the last quarter. Finally, Garde Capital Inc. boosted its position in shares of Caterpillar by 3.6% in the third quarter. Garde Capital Inc. now owns 7,237 shares of the company’s stock valued at $473,000 after buying an additional 250 shares in the last quarter. 69.47% of the stock is owned by institutional investors.
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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