Caterpillar (NYSE:CAT) PT Lowered to $205.00 at Wells Fargo & Company

Caterpillar (NYSE:CATGet Rating) had its target price cut by Wells Fargo & Company from $230.00 to $205.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on CAT. Tigress Financial upped their price target on shares of Caterpillar from $278.00 to $282.00 and gave the stock a buy rating in a report on Friday, May 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Caterpillar from $240.00 to $227.00 and set a buy rating for the company in a research report on Wednesday, July 13th. UBS Group dropped their target price on shares of Caterpillar from $250.00 to $225.00 and set a buy rating for the company in a report on Wednesday. Cowen dropped their target price on shares of Caterpillar from $255.00 to $225.00 and set an outperform rating for the company in a report on Thursday, July 7th. Finally, Sanford C. Bernstein lowered shares of Caterpillar from an outperform rating to a market perform rating and set a $195.00 target price for the company. in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $225.27.

Caterpillar Price Performance

Shares of NYSE CAT opened at $185.39 on Wednesday. Caterpillar has a twelve month low of $167.08 and a twelve month high of $237.90. The stock’s 50 day moving average price is $191.68 and its 200-day moving average price is $203.92. The company has a market capitalization of $98.88 billion, a PE ratio of 14.83, a PEG ratio of 1.21 and a beta of 1.01. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 1.66.

Caterpillar (NYSE:CATGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, beating the consensus estimate of $3.01 by $0.17. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. Caterpillar’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar will post 12.63 EPS for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Wednesday, July 20th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Tuesday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $1.11. Caterpillar’s payout ratio is 38.40%.

Insider Transactions at Caterpillar

In other news, insider Joseph E. Creed sold 2,757 shares of Caterpillar stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $214.13, for a total transaction of $590,356.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FDx Advisors Inc. lifted its stake in shares of Caterpillar by 38.1% during the 1st quarter. FDx Advisors Inc. now owns 1,697 shares of the industrial products company’s stock valued at $378,000 after buying an additional 468 shares in the last quarter. Stonnington Group LLC increased its holdings in Caterpillar by 1.9% in the 1st quarter. Stonnington Group LLC now owns 17,545 shares of the industrial products company’s stock valued at $3,791,000 after acquiring an additional 330 shares during the last quarter. Deutsche Bank AG increased its holdings in Caterpillar by 6.4% in the 4th quarter. Deutsche Bank AG now owns 1,769,205 shares of the industrial products company’s stock valued at $365,767,000 after acquiring an additional 106,731 shares during the last quarter. Signaturefd LLC increased its holdings in Caterpillar by 4.1% in the 1st quarter. Signaturefd LLC now owns 8,718 shares of the industrial products company’s stock valued at $1,943,000 after acquiring an additional 341 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in Caterpillar by 3.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,666 shares of the industrial products company’s stock valued at $758,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

About Caterpillar

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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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