Shares of Caterpillar Inc. (NYSE:CAT – Get Free Report) have been assigned an average rating of “Hold” from the eighteen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $337.38.
Several research analysts recently weighed in on the stock. TD Cowen upped their price target on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Bank of America reduced their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. HSBC raised their price objective on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Finally, Citigroup started coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company.
Read Our Latest Research Report on CAT
Insider Activity
Institutional Investors Weigh In On Caterpillar
Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Caterpillar during the fourth quarter worth $1,660,560,000. Capital Wealth Planning LLC boosted its holdings in Caterpillar by 27,495.2% during the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares during the period. Charles Schwab Investment Management Inc. grew its position in Caterpillar by 19.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after acquiring an additional 529,420 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Caterpillar by 5,293.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock worth $142,620,000 after purchasing an additional 473,416 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after purchasing an additional 307,479 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Stock Down 0.6 %
Shares of CAT opened at $343.48 on Monday. The firm has a market cap of $167.98 billion, a P/E ratio of 15.51, a PEG ratio of 1.72 and a beta of 1.12. Caterpillar has a 12 month low of $223.76 and a 12 month high of $382.01. The stock’s 50 day moving average is $334.48 and its two-hundred day moving average is $340.30. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.
Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.55 EPS. Analysts predict that Caterpillar will post 21.57 earnings per share for the current fiscal year.
Caterpillar announced that its board has approved a share buyback plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Caterpillar Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.64%. Caterpillar’s dividend payout ratio is currently 25.46%.
About Caterpillar
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.
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