Caterpillar (CAT) Rating Lowered to C+ at TheStreet
CAT has been the topic of several other research reports. Citigroup increased their price objective on shares of Caterpillar from $145.00 to $160.00 and gave the stock a neutral rating in a research note on Thursday, December 21st. Vetr upgraded shares of Caterpillar from a sell rating to a hold rating and set a $131.05 target price on the stock in a research note on Thursday, October 19th. Zacks Investment Research upgraded shares of Caterpillar from a hold rating to a buy rating and set a $142.00 target price on the stock in a research note on Wednesday, October 11th. Argus raised their target price on shares of Caterpillar from $130.00 to $155.00 and gave the stock a buy rating in a research note on Thursday, October 26th. Finally, Bank of America restated a buy rating and set a $189.00 target price (up previously from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $167.80.
Caterpillar (NYSE CAT) opened at $149.21 on Thursday. Caterpillar has a one year low of $90.34 and a one year high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. The firm has a market cap of $90,730.00, a P/E ratio of 118.42, a PEG ratio of 1.56 and a beta of 1.22.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is currently 247.62%.
In other Caterpillar news, General Counsel Suzette M. Long sold 528 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the sale, the general counsel now directly owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the sale, the insider now directly owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,331 shares of company stock valued at $22,107,578. Insiders own 0.14% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in 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 buying an additional 2,377,623 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Caterpillar by 6.5% in the fourth quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after purchasing an additional 2,297,750 shares in the last quarter. FMR LLC grew its holdings 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 valued at $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Caterpillar by 126.5% in the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after purchasing an additional 3,324,051 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Caterpillar by 10.9% in the second quarter. TIAA CREF Investment Management LLC now owns 3,058,115 shares of the industrial products company’s stock valued at $328,625,000 after purchasing an additional 301,739 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.
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Caterpillar Company Profile
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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