Caterpillar (CAT) Price Target Increased to $192.00 by Analysts at Credit Suisse Group
Caterpillar (NYSE:CAT) had its price target boosted by Credit Suisse Group from $155.00 to $192.00 in a research report released on Friday morning, MarketBeat.com reports. Credit Suisse Group currently has an outperform rating on the industrial products company’s stock.
Other equities analysts have also issued research reports about the stock. Wells Fargo & Co set a $150.00 price objective on shares of Caterpillar and gave the company a buy rating in a research report on Monday, October 16th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Caterpillar from a hold rating to a buy rating and set a $142.00 price objective for the company in a research report on Wednesday, October 11th. Goldman Sachs Group raised their price objective on shares of Caterpillar from $143.00 to $158.00 and gave the company a buy rating in a research report on Monday, October 9th. UBS Group set a $155.00 price objective on shares of Caterpillar and gave the company a buy rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets restated a buy rating and set a $150.00 price objective on shares of Caterpillar in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $156.64.
Caterpillar (NYSE:CAT) opened at $170.41 on Friday. Caterpillar has a 12-month low of $90.34 and a 12-month high of $173.24. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market cap of $101,380.00, a PE ratio of 118.34, a PEG ratio of 2.08 and a beta of 1.29.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is 216.67%.
In other news, insider Thomas A. Pellette sold 24,547 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 1,572 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the sale, the insider now directly owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,989 shares of company stock valued at $7,235,850. Corporate insiders own 0.14% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. lifted its position in shares of Caterpillar by 244.8% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 5,310 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 3,770 shares in the last quarter. V Wealth Management LLC lifted its position in shares of Caterpillar by 92.5% in the fourth quarter. V Wealth Management LLC now owns 9,044 shares of the industrial products company’s stock worth $1,532,000 after purchasing an additional 4,346 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $355,000. Bender Robert & Associates purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $223,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Caterpillar by 779.7% in the fourth quarter. State of Alaska Department of Revenue now owns 60,006 shares of the industrial products company’s stock worth $9,454,000 after purchasing an additional 53,185 shares in the last quarter. 68.62% of the stock is owned by institutional investors and hedge funds.
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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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