Caterpillar, Inc. (CAT) Lifted to “Hold” at Vetr Inc.
Vetr upgraded shares of Caterpillar, Inc. (NYSE:CAT) from a sell rating to a hold rating in a research note published on Tuesday. The brokerage currently has $124.44 target price on the industrial products company’s stock.
Several other research analysts also recently weighed in on CAT. Atlantic Securities raised shares of Caterpillar from an underweight rating to a neutral rating and boosted their target price for the company from $85.00 to $115.00 in a research note on Thursday, August 3rd. ValuEngine downgraded shares of Caterpillar from a buy rating to a hold rating in a research note on Monday, October 2nd. Argus reaffirmed a buy rating and set a $113.10 price objective (down previously from $130.00) on shares of Caterpillar in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a hold rating and set a $120.00 price objective (up previously from $100.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Finally, Axiom Securities reaffirmed a sell rating on shares of Caterpillar in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $116.98.
Caterpillar (NYSE:CAT) last announced its earnings results 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. 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 in the previous year, the company posted $1.09 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s payout ratio is 2,080.00%.
In related news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.14% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Caterpillar by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after acquiring an additional 2,377,623 shares in the last quarter. FMR LLC increased 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 period. Morgan Stanley increased 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 period. Primecap Management Co. CA increased 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 period. Finally, Geode Capital Management LLC increased 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 period. 69.24% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Company Profile
To view Vetr’s full report, visit Vetr’s official website.
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