Caterpillar Inc. (CAT) Rating Reiterated by Jefferies Group LLC
Jefferies Group LLC reissued their hold rating on shares of Caterpillar Inc. (NYSE:CAT) in a report published on Tuesday. They currently have a $100.00 price objective on the industrial products company’s stock.
A number of other research analysts also recently issued reports on the company. Bank of America Corporation upgraded Caterpillar from a neutral rating to a buy rating and increased their price objective for the stock from $105.00 to $120.00 in a report on Thursday, May 11th. Axiom Securities reiterated a sell rating on shares of Caterpillar in a report on Friday, May 5th. Deutsche Bank AG downgraded 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 report on Friday, June 23rd. Credit Suisse Group reiterated an outperform rating and set a $133.00 price objective (up from $123.00) on shares of Caterpillar in a report on Wednesday, July 26th. Finally, Tigress Financial upgraded Caterpillar from a neutral rating to a buy rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $106.20.
Shares of Caterpillar (NYSE CAT) opened at 118.28 on Tuesday. Caterpillar has a one year low of $79.93 and a one year high of $118.83. The stock’s 50 day moving average price is $113.22 and its 200 day moving average price is $103.29. The firm has a market capitalization of $69.90 billion, a price-to-earnings ratio of 660.78 and a beta of 1.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 23.31% and a net margin of 7.04%. The company had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts expect that Caterpillar will post $5.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th were paid a $0.78 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date was Tuesday, July 18th. This represents a $3.12 annualized dividend and a dividend yield of 2.64%. Caterpillar’s dividend payout ratio (DPR) is presently 2,080.00%.
In other news, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of Caterpillar stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.
Several institutional investors have recently modified their holdings of CAT. City Holding Co. raised its stake in shares of Caterpillar by 7.2% in the first quarter. City Holding Co. now owns 19,379 shares of the industrial products company’s stock worth $1,798,000 after buying an additional 1,305 shares in the last quarter. Diversified Trust Co raised its stake in shares of Caterpillar by 1.9% in the first quarter. Diversified Trust Co now owns 2,777 shares of the industrial products company’s stock worth $258,000 after buying an additional 53 shares in the last quarter. V Wealth Management LLC raised its stake in shares of Caterpillar by 15.3% in the first quarter. V Wealth Management LLC now owns 5,108 shares of the industrial products company’s stock worth $474,000 after buying an additional 677 shares in the last quarter. Country Trust Bank raised its stake in shares of Caterpillar by 2.4% in the first quarter. Country Trust Bank now owns 184,409 shares of the industrial products company’s stock worth $17,106,000 after buying an additional 4,278 shares in the last quarter. Finally, Nicolet Bankshares Inc. raised its stake in shares of Caterpillar by 4.9% in the first quarter. Nicolet Bankshares Inc. now owns 3,855 shares of the industrial products company’s stock worth $358,000 after buying an additional 181 shares in the last quarter. Institutional investors own 69.22% of the company’s stock.
Caterpillar Company Profile
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