Caterpillar’s (NYSE:CAT) “Buy” Rating Reiterated at BMO Capital Markets

BMO Capital Markets restated their buy rating on shares of Caterpillar (NYSE:CAT) in a research report sent to investors on Thursday, January 4th. They currently have a $195.00 price target on the industrial products company’s stock, up from their prior price target of $165.00.

Other equities analysts have also issued reports about the stock. Vetr lowered shares of Caterpillar from a buy rating to a hold rating and set a $122.53 price objective on the stock. in a research report on Monday, September 11th. UBS Group upgraded shares of Caterpillar from a neutral rating to a buy rating and upped their price target for the company from $116.00 to $140.00 in a research note on Monday, September 18th. Citigroup upped their price target on shares of Caterpillar from $145.00 to $160.00 and gave the company a neutral rating in a research note on Thursday, December 21st. Goldman Sachs Group increased their price objective on shares of Caterpillar from $143.00 to $158.00 and gave the stock a buy rating in a research note on Monday, October 9th. Finally, OTR Global downgraded shares of Caterpillar to a positive rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $160.21.

Shares of Caterpillar (NYSE:CAT) opened at $170.93 on Thursday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market cap of $101,690.00, a P/E ratio of 118.70, a P/E/G ratio of 2.08 and a beta of 1.29. Caterpillar has a 12 month low of $90.34 and a 12 month high of $173.24.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. The firm had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. analysts predict that Caterpillar will post 6.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is 216.67%.

In other Caterpillar news, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares in the company, valued at $1,526,587.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the sale, the chief financial officer now owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. Insiders have sold 52,989 shares of company stock valued at $7,235,850 in the last three months. 0.14% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CAT. Quadrant Capital Group LLC raised its holdings in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 128 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Caterpillar in the second quarter worth $104,000. Motco grew its stake in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 718 shares during the last quarter. Acrospire Investment Management LLC grew its stake in shares of Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 900 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Caterpillar by 75.6% in the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 68.62% of the company’s stock.

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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.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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