ValuEngine downgraded shares of Caterpillar (NYSE:CAT) from a buy rating to a hold rating in a report released on Wednesday morning.
Several other equities research analysts also recently commented on the stock. Vetr raised shares of Caterpillar from a buy rating to a strong-buy rating and set a $170.44 price objective on the stock in a report on Monday, February 5th. Credit Suisse Group upped their price objective on shares of Caterpillar from $155.00 to $192.00 and gave the company an outperform rating in a report on Friday, January 19th. Citigroup upped their price objective on shares of Caterpillar from $145.00 to $160.00 and gave the company a neutral rating in a report on Thursday, December 21st. Wells Fargo & Co upped their price objective on shares of Caterpillar from $160.00 to $200.00 and gave the company an outperform rating in a report on Thursday, January 18th. Finally, JPMorgan Chase & Co. raised shares of Caterpillar from a neutral rating to an overweight rating and upped their price objective for the company from $161.96 to $200.00 in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Caterpillar currently has an average rating of Buy and a consensus price target of $169.06.
Shares of Caterpillar (NYSE CAT) opened at $158.25 on Wednesday. The company has a market cap of $97,440.00, a PE ratio of 30.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. Caterpillar has a fifty-two week low of $90.34 and a fifty-two week high of $173.24. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, January 22nd were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is 59.66%.
In related news, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total value of $15,526,004.91. Following the transaction, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Suzette M. Long sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the transaction, the general counsel now owns 19,646 shares in the company, valued at $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in Caterpillar by 10.6% during the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 128 shares during the last quarter. Gradient Investments LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd bought a new position in Caterpillar during the fourth quarter valued at approximately $131,000. Clearbridge LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $140,000. Finally, Aevitas Wealth Management Inc. bought a new position in Caterpillar during the fourth quarter valued at approximately $143,000. Institutional investors and hedge funds own 68.41% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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