Caterpillar, Inc. (CAT) Given Hold Rating at Royal Bank Of Canada
CAT has been the subject of several other research reports. Bank of America Corporation upgraded shares of Caterpillar from a neutral rating to a buy rating and raised their price objective for the company from $105.00 to $120.00 in a research report on Thursday, May 11th. Axiom Securities reaffirmed a sell rating on shares of Caterpillar in a research note on Friday, May 5th. Deutsche Bank AG lowered shares of Caterpillar from a buy rating to a hold rating and reduced their target price for the company from $121.00 to $106.00 in a research note on Friday, June 23rd. Credit Suisse Group reaffirmed an outperform rating and issued a $133.00 target price (up previously from $123.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Finally, Tigress Financial raised shares of Caterpillar from a neutral rating to a buy rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $106.20.
Shares of Caterpillar (NYSE CAT) opened at 116.01 on Tuesday. Caterpillar has a 52 week low of $79.93 and a 52 week high of $116.64. The stock’s 50 day moving average is $112.00 and its 200 day moving average is $102.51. The firm has a market cap of $68.56 billion, a P/E ratio of 648.10 and a beta of 1.25.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. On average, equities research analysts predict that Caterpillar will post $5.24 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th were issued a $0.78 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.69%. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
In related news, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was 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 sold 201,471 shares of company stock worth $22,979,332 over the last quarter. 0.15% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of CAT. Vanguard Group Inc. increased its position in shares of 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 during the last quarter. FMR LLC increased its position in shares of 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. Renaissance Technologies LLC purchased a new position in shares of Caterpillar during the first quarter worth $143,490,000. Morgan Stanley increased its position in shares of 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. Finally, Balyasny Asset Management LLC increased its position in shares of Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock worth $110,990,000 after buying an additional 1,216,053 shares during the last quarter. Institutional investors and hedge funds own 69.22% of the company’s stock.
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