Caterpillar, Inc. (CAT) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Caterpillar, Inc. (NYSE:CAT) from a sell rating to a hold rating in a research report report published on Friday morning.
Several other analysts also recently issued reports on CAT. Bank of America Corporation raised shares of Caterpillar from a neutral rating to a buy rating and raised their price objective for the stock from $105.00 to $120.00 in a research note on Thursday, May 11th. Axiom Securities reissued a sell rating on shares of Caterpillar in a research note on Friday, June 16th. Zacks Investment Research downgraded shares of Caterpillar from a strong-buy rating to a hold rating in a research note on Tuesday, June 27th. Deutsche Bank AG downgraded shares of Caterpillar from a buy rating to a hold rating and decreased their price objective for the stock from $121.00 to $106.00 in a research note on Friday, June 23rd. Finally, Credit Suisse Group reissued a buy rating and issued a $123.00 price objective on shares of Caterpillar in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $107.15.
Caterpillar (CAT) opened at 115.35 on Friday. The firm has a 50-day moving average price of $112.00 and a 200-day moving average price of $102.51. Caterpillar has a one year low of $79.93 and a one year high of $116.64. The firm has a market cap of $68.17 billion, a PE ratio of 644.41 and a beta of 1.25.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Caterpillar will post $5.24 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Saturday, August 19th. Investors of record on Thursday, July 20th were given a dividend of $0.78 per share. The ex-dividend date was Tuesday, July 18th. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a yield of 2.70%. Caterpillar’s payout ratio is currently 2,080.00%.
In related news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 over the last 90 days. 0.15% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. FMR LLC boosted its position in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after buying an additional 2,052,300 shares during the last quarter. Morgan Stanley boosted its position in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Primecap Management Co. CA boosted its position in Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares during the last quarter. Institutional investors own 69.22% of the company’s stock.
Caterpillar Company Profile
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