Caterpillar (CAT) Raised to “Hold” at Vetr

Vetr upgraded shares of Caterpillar (NYSE:CAT) from a sell rating to a hold rating in a research report report published on Monday, November 13th. The firm currently has $135.41 target price on the industrial products company’s stock.

Several other brokerages also recently weighed in on CAT. UBS set a $155.00 price objective on Caterpillar and gave the stock a buy rating in a research report on Wednesday, October 25th. Stifel Nicolaus upped their price objective on Caterpillar from $125.00 to $145.00 and gave the stock a hold rating in a research report on Wednesday, October 25th. Royal Bank Of Canada upped their price objective on Caterpillar from $120.00 to $143.00 and gave the stock a sector perform rating in a research report on Wednesday, October 25th. Robert W. Baird upped their price objective on Caterpillar from $130.00 to $140.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. Finally, Bank of America set a $152.00 price objective on Caterpillar and gave the stock a buy rating in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Caterpillar presently has an average rating of Hold and a consensus price target of $133.92.

Caterpillar (NYSE CAT) traded up $0.37 during trading hours on Monday, hitting $141.52. The stock had a trading volume of 5,399,265 shares, compared to its average volume of 2,738,521. The company has a market cap of $83,974.88, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 2.14 and a beta of 1.29. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. Caterpillar has a 1 year low of $90.34 and a 1 year high of $142.40.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. analysts expect that Caterpillar will post 6.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 23rd were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.20%. Caterpillar’s payout ratio is 216.67%.

In related news, insider Lange Bob De sold 1,572 shares of the firm’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 transaction of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bradley M. Halverson sold 17,210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the sale, the chief financial officer now directly 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. In the last three months, insiders sold 52,989 shares of company stock valued at $7,235,850. Insiders own 0.14% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXA boosted its holdings in Caterpillar by 1.4% in the third quarter. AXA now owns 147,194 shares of the industrial products company’s stock worth $18,356,000 after acquiring an additional 2,064 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Caterpillar in the third quarter worth approximately $1,989,000. Public Employees Retirement System of Ohio boosted its holdings in Caterpillar by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 394,172 shares of the industrial products company’s stock worth $49,157,000 after acquiring an additional 1,825 shares in the last quarter. Crestwood Advisors Group LLC boosted its holdings in Caterpillar by 24.2% in the third quarter. Crestwood Advisors Group LLC now owns 4,004 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 779 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Caterpillar by 1.9% in the third quarter. Salem Investment Counselors Inc. now owns 30,919 shares of the industrial products company’s stock worth $3,851,000 after acquiring an additional 590 shares in the last quarter. 68.61% of the stock is owned by institutional investors and hedge funds.

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About Caterpillar

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