Caterpillar, Inc. (NYSE:CAT) had its price target boosted by Goldman Sachs Group, Inc. (The) from $143.00 to $158.00 in a research report sent to investors on Monday, Marketbeat reports. The brokerage currently has a buy rating on the industrial products company’s stock.
A number of other equities research analysts have also recently commented on CAT. Atlantic Securities raised shares of Caterpillar from an underweight rating to a neutral rating and lifted their price target for the stock from $85.00 to $115.00 in a report on Thursday, August 3rd. ValuEngine cut shares of Caterpillar from a buy rating to a hold rating in a report on Monday, October 2nd. Vetr raised shares of Caterpillar from a strong sell rating to a buy rating and set a $120.03 price target on the stock in a report on Thursday, August 10th. Argus reaffirmed a buy rating and issued a $113.10 price target (down previously from $130.00) on shares of Caterpillar in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $120.00 price target (up previously from $100.00) on shares of Caterpillar in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $116.98.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The company had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. Caterpillar’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.
In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock valued at $22,979,332 over the last 90 days. Company insiders own 0.14% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Caterpillar by 6.1% during the 2nd 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 in the last quarter. FMR LLC grew its position in shares of Caterpillar by 11.7% during the 2nd 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 in the last quarter. Morgan Stanley grew its position in shares of Caterpillar by 15.1% during the 1st 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 in the last quarter. Primecap Management Co. CA grew its position in shares of Caterpillar by 16.9% during the 1st 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 in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of 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 valued at $516,423,000 after purchasing an additional 419,191 shares in the last quarter. Hedge funds and other institutional investors own 69.24% of the company’s stock.
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