Berenberg Bank assumed coverage on shares of Caterpillar (NYSE:CAT) in a report published on Thursday, January 18th, MarketBeat reports. The brokerage issued a buy rating and a $200.00 target price on the industrial products company’s stock.
CAT has been the subject of a number of other research reports. Citigroup increased their price target on Caterpillar from $145.00 to $160.00 and gave the company a neutral rating in a report on Thursday, December 21st. Vetr raised Caterpillar from a sell rating to a hold rating and set a $131.05 price target for the company in a report on Thursday, October 19th. Zacks Investment Research cut Caterpillar from a strong-buy rating to a hold rating in a research note on Tuesday, September 26th. Argus upped their price objective on Caterpillar from $130.00 to $155.00 and gave the company a buy rating in a research note on Thursday, October 26th. Finally, Bank of America restated a buy rating and set a $189.00 price objective (up previously from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Caterpillar has an average rating of Buy and a consensus price target of $167.80.
Shares of Caterpillar (NYSE:CAT) traded up $3.22 during midday trading on Thursday, hitting $149.21. The stock had a trading volume of 9,452,458 shares, compared to its average volume of 6,820,000. Caterpillar has a 52 week low of $90.34 and a 52 week high of $173.24. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97. The stock has a market capitalization of $88,770.00, a P/E ratio of 118.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22.
Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $12.01 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up 34.7% compared to the same quarter last year. sell-side analysts expect that Caterpillar will post 9.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, January 19th. Caterpillar’s payout ratio is currently 247.62%.
In other news, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $135.69, for a total transaction of $3,330,782.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas A. Pellette sold 95,199 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the sale, the insider now directly owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,331 shares of company stock valued at $22,107,578. 0.14% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares in the last quarter. Motco lifted its holdings in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings 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 valued at $107,000 after purchasing an additional 900 shares in the last quarter. Gradient Investments LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $113,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Caterpillar in the fourth quarter valued at $131,000. 69.25% of the stock is owned by institutional investors and hedge funds.
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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.
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