Caterpillar (NYSE:CAT) Upgraded at UBS Group

UBS Group upgraded shares of Caterpillar (NYSE:CAT) from a sell rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports. They currently have $385.00 price objective on the industrial products company’s stock, up from their previous price objective of $355.00.

Several other analysts also recently issued reports on the stock. Truist Financial reduced their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Bank of America reduced their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $379.50.

Caterpillar Stock Down 0.8 %

CAT opened at $359.04 on Monday. The stock has a market capitalization of $173.35 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.95 and a beta of 1.12. Caterpillar has a 12 month low of $307.05 and a 12 month high of $418.50. The business has a 50 day simple moving average of $379.09 and a 200-day simple moving average of $371.31. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts anticipate that Caterpillar will post 21.45 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.57%. Caterpillar’s payout ratio is currently 25.56%.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors have recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar in the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Caterpillar during the fourth quarter worth about $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the 3rd quarter worth about $36,000. Finally, Albion Financial Group UT boosted its stake in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares during the period. 70.98% of the stock is currently owned by institutional investors.

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.