Caterpillar (NYSE:CAT) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Caterpillar (NYSE:CATFree Report) from a buy rating to a strong-buy rating in a research report report published on Monday.

Several other equities analysts have also weighed in on CAT. Wells Fargo & Company raised their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Sanford C. Bernstein raised their price objective on shares of Caterpillar from $216.00 to $245.00 and gave the company a market perform rating in a research report on Thursday, December 21st. The Goldman Sachs Group raised their price objective on shares of Caterpillar from $274.00 to $357.00 and gave the company a buy rating in a research report on Tuesday, February 6th. Robert W. Baird raised their target price on shares of Caterpillar from $210.00 to $257.00 and gave the stock an underperform rating in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $345.00 to $385.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Caterpillar currently has a consensus rating of Hold and an average price target of $288.61.

Check Out Our Latest Research Report on Caterpillar

Caterpillar Stock Performance

Shares of CAT opened at $321.64 on Monday. The firm has a 50-day moving average price of $291.49 and a 200 day moving average price of $274.16. The firm has a market capitalization of $163.75 billion, a PE ratio of 15.97, a P/E/G 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. Caterpillar has a 52-week low of $204.04 and a 52-week high of $334.87.

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

Caterpillar Dividend Announcement

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

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred 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 approximately $19,886,667.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,194 shares of company stock valued at $13,000,471. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Moneta Group Investment Advisors LLC grew its stake in shares of Caterpillar by 130,632.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after acquiring an additional 9,776,533 shares during the last quarter. Norges Bank acquired a new stake in shares of Caterpillar in the fourth quarter worth $1,660,560,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Caterpillar in the first quarter worth $433,134,000. Imprint Wealth LLC grew its stake in shares of Caterpillar by 24,982.9% in the second quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock worth $153,808,000 after acquiring an additional 1,531,952 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after acquiring an additional 1,488,813 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

About Caterpillar

(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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