Evercore ISI Issues Positive Forecast for Caterpillar (NYSE:CAT) Stock Price

Caterpillar (NYSE:CAT) had its price target increased by Evercore ISI from $476.00 to $630.00 in a report published on Monday,MarketScreener reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on CAT. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Robert W. Baird increased their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Monday. Finally, Barclays upped their price target on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $610.32.

Caterpillar Trading Up 2.1%

Shares of CAT stock opened at $558.41 on Monday. Caterpillar has a twelve month low of $267.30 and a twelve month high of $596.21. The stock’s fifty day simple moving average is $511.40 and its 200 day simple moving average is $431.86. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $261.33 billion, a P/E ratio of 28.65, a P/E/G ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $5.17 earnings per share. As a group, sell-side analysts predict that Caterpillar will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Insider Buying and Selling

In related news, Director David Maclennan bought 300 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average price of $568.86 per share, for a total transaction of $170,658.00. Following the transaction, the director directly owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the transaction, the insider directly owned 41,512 shares in the company, valued at approximately $23,669,312.16. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,229 shares of company stock worth $43,323,118 over the last ninety days. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kilter Group LLC acquired a new position in shares of Caterpillar during the second quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at $28,000. Marquette Asset Management LLC increased its stake in Caterpillar by 1,060.0% during the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. Compass Financial Services Inc raised its holdings in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar in the second quarter valued at $32,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.