Caterpillar (NYSE:CAT) Price Target Raised to $340.00 at Citigroup

Caterpillar (NYSE:CATFree Report) had its price target upped by Citigroup from $255.00 to $340.00 in a research note issued to investors on Monday, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on CAT. TD Cowen raised their target price on Caterpillar from $300.00 to $338.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $345.00 to $385.00 and gave the company an overweight rating in a research note on Tuesday, February 6th. HSBC started coverage on Caterpillar in a research note on Monday, November 20th. They set a hold rating and a $250.00 price objective for the company. Wells Fargo & Company lifted their price objective on Caterpillar from $290.00 to $325.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley started coverage on Caterpillar in a research note on Monday, January 8th. They set an equal weight rating and a $270.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $288.61.

Read Our Latest Analysis on CAT

Caterpillar Trading Up 1.4 %

CAT opened at $321.64 on Monday. The stock has a market cap of $163.75 billion, a PE ratio of 15.97, a PEG ratio of 1.53 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average of $291.49 and a 200-day moving average of $274.16. Caterpillar has a 52 week low of $204.04 and a 52 week high of $334.87.

Caterpillar (NYSE:CATGet Free Report) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The company had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.86 EPS. Equities research analysts predict that Caterpillar will post 21.04 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is currently 25.82%.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. Insiders sold 41,194 shares of company stock valued at $13,000,471 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several institutional investors and hedge funds have recently bought and sold shares of CAT. BCK Partners Inc. purchased a new position in Caterpillar during the first quarter valued at $2,580,000. Sei Investments Co. lifted its position in shares of Caterpillar by 17.3% in the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after acquiring an additional 9,695 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Caterpillar in the first quarter valued at about $405,000. Mather Group LLC. lifted its position in shares of Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Caterpillar by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after acquiring an additional 2,076 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Company Profile

(Get Free Report)

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, tractors, excavators, telehandlers, motor graders, and pipelayers; compact track and multi-terrain, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

Further Reading

Analyst Recommendations for Caterpillar (NYSE:CAT)

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