Several other brokerages have also issued reports on CAT. RBC Capital Markets set a $73.00 price target on Caterpillar and gave the stock a hold rating in a research note on Wednesday, July 27th. Morgan Stanley reaffirmed a hold rating and set a $67.00 price target on shares of Caterpillar in a research note on Thursday, July 28th. Zacks Investment Research lowered Caterpillar from a hold rating to a sell rating in a research note on Thursday, June 30th. Citigroup Inc. set a $82.00 price target on Caterpillar and gave the stock a hold rating in a research note on Tuesday, August 16th. Finally, Bank of America Corp. reaffirmed a hold rating and set a $92.00 price target on shares of Caterpillar in a research note on Monday, October 3rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. Caterpillar currently has a consensus rating of Hold and an average price target of $76.48.
Shares of Caterpillar (NYSE:CAT) opened at 87.67 on Wednesday. Caterpillar has a 1-year low of $56.36 and a 1-year high of $89.87. The company’s 50-day moving average price is $84.36 and its 200 day moving average price is $79.01. The firm has a market cap of $51.22 billion, a PE ratio of 58.45 and a beta of 1.54.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The firm earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue was down 16.0% compared to the same quarter last year. On average, analysts predict that Caterpillar will post $3.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $3.08 annualized dividend and a dividend yield of 3.51%. Caterpillar’s payout ratio is 165.59%.
In other news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the transaction, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis A. Muilenburg purchased 1,930 shares of the stock in a transaction dated Friday, July 29th. The shares were purchased at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. American Money Management LLC boosted its position in Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock valued at $291,000 after buying an additional 11 shares during the last quarter. Pitcairn Co. raised its stake in Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock valued at $250,000 after buying an additional 14 shares during the period. Pittenger & Anderson Inc. raised its stake in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares during the period. Sabal Trust CO raised its stake in Caterpillar by 0.7% in the second quarter. Sabal Trust CO now owns 4,128 shares of the company’s stock valued at $313,000 after buying an additional 28 shares during the period. Finally, St. Johns Investment Management Company LLC raised its stake in Caterpillar by 0.5% in the second quarter. St. Johns Investment Management Company LLC now owns 7,643 shares of the company’s stock valued at $579,000 after buying an additional 36 shares during the period. 68.99% of the stock is currently owned by hedge funds and other institutional investors.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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