Vetr upgraded shares of Caterpillar, Inc. (NYSE:CAT) from a sell rating to a hold rating in a research report sent to investors on Monday. The brokerage currently has $135.41 price target on the industrial products company’s stock.
Several other research firms also recently commented on CAT. BidaskClub raised Caterpillar from a sell rating to a hold rating in a research report on Friday, August 25th. Seaport Global Securities initiated coverage on Caterpillar in a research note on Wednesday, September 6th. They issued a neutral rating and a $120.00 price target for the company. Wells Fargo & Company reiterated an outperform rating on shares of Caterpillar in a research note on Wednesday, July 26th. Credit Suisse Group reiterated an outperform rating and issued a $146.00 price target (up from $133.00) on shares of Caterpillar in a research note on Wednesday, October 18th. Finally, BMO Capital Markets boosted their price target on Caterpillar from $150.00 to $165.00 and gave the company an outperform rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Caterpillar presently has an average rating of Hold and an average target price of $133.92.
Caterpillar (NYSE CAT) opened at $136.36 on Monday. Caterpillar has a 12-month low of $90.34 and a 12-month high of $140.44. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. The company has a market capitalization of $81,130.00, a P/E ratio of 24.78, a PEG ratio of 2.08 and a beta of 1.29.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. sell-side analysts expect that Caterpillar will post 6.4 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be issued a $0.78 dividend. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.29%. Caterpillar’s payout ratio is 216.67%.
In related news, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the sale, the director now directly owns 6,554 shares in the company, valued at $898,487.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The shares were 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 of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares during the period. FMR LLC increased its holdings in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares during the period. Morgan Stanley increased its holdings in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the period. Primecap Management Co. CA increased its holdings in Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after purchasing an additional 1,047,922 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Caterpillar by 8.1% during the 1st quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after acquiring an additional 419,191 shares during the period. Institutional investors and hedge funds own 69.38% of the company’s stock.
To view Vetr’s full report, visit Vetr’s official website.
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