Caterpillar Inc. (CAT) Lowered to “Strong Sell” at Vetr Inc.
Several other brokerages also recently weighed in on CAT. OTR Global upgraded Caterpillar to a positive rating in a report on Friday, November 18th. Credit Suisse Group AG set a $101.00 price target on Caterpillar and gave the company a buy rating in a report on Saturday, November 19th. Bank of America Corp. reiterated a hold rating and issued a $92.00 price target on shares of Caterpillar in a report on Monday, October 3rd. Zacks Investment Research downgraded Caterpillar from a buy rating to a hold rating in a report on Tuesday, October 4th. Finally, Goldman Sachs Group Inc. upgraded Caterpillar from a neutral rating to a buy rating and upped their price objective for the stock from $76.00 to $112.00 in a report on Tuesday, October 11th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $78.07.
Caterpillar (NYSE:CAT) opened at 96.18 on Thursday. The stock’s 50 day moving average price is $88.01 and its 200 day moving average price is $81.26. Caterpillar has a 52-week low of $56.36 and a 52-week high of $96.42. The stock has a market capitalization of $56.27 billion, a price-to-earnings ratio of 93.56 and a beta of 1.30.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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%. Caterpillar’s revenue was down 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. On average, analysts forecast that Caterpillar will post $3.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, November 19th. Investors 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 yield of 3.20%. Caterpillar’s dividend payout ratio (DPR) is 179.07%.
In related news, Director Daniel M. Dickinson sold 950 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $93.52, for a total transaction of $88,844.00. Following the sale, the director now owns 17,476 shares in the company, valued at $1,634,355.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Pittenger & Anderson Inc. raised its stake in shares of Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares during the last quarter. 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 valued at $100,000 after buying an additional 5 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Caterpillar by 5.3% in the third quarter. Quadrant Capital Group LLC now owns 1,282 shares of the company’s stock valued at $106,000 after buying an additional 65 shares during the last quarter. Enterprise Financial Services Corp raised its stake in shares of Caterpillar by 7.0% in the third quarter. Enterprise Financial Services Corp now owns 1,204 shares of the company’s stock valued at $107,000 after buying an additional 79 shares during the last quarter. Finally, Integrated Wealth Management raised its stake in shares of Caterpillar by 34.6% in the third quarter. Integrated Wealth Management now owns 1,246 shares of the company’s stock valued at $111,000 after buying an additional 320 shares during the last quarter. Institutional investors own 69.47% of the company’s stock.
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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