Caterpillar (NYSE:CAT) Downgraded by Stifel Nicolaus to “Hold”

Stifel Nicolaus lowered shares of Caterpillar (NYSE:CAT) from a buy rating to a hold rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $350.00 target price on the industrial products company’s stock, up from their previous target price of $293.00.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group upped their price target on Caterpillar from $357.00 to $408.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Morgan Stanley began coverage on Caterpillar in a research report on Monday, January 8th. They issued an equal weight rating and a $270.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Caterpillar from $385.00 to $435.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Robert W. Baird upped their price objective on Caterpillar from $210.00 to $257.00 and gave the company an underperform rating in a research report on Tuesday, February 6th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Caterpillar in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $316.88.

Caterpillar Stock Performance

Caterpillar stock opened at $343.38 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $171.48 billion, a P/E ratio of 15.50, a PEG ratio of 1.53 and a beta of 1.17. The stock’s 50 day moving average is $350.10 and its 200 day moving average is $301.19. Caterpillar has a twelve month low of $204.04 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, equities research analysts predict that Caterpillar will post 21.44 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.51%. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the 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 approximately $17,774,001.70. The disclosure for this sale can be found here. Insiders sold 35,769 shares of company stock worth $11,508,906 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors and hedge funds have recently bought and sold shares of CAT. Handelsbanken Fonder AB raised its holdings in Caterpillar by 8.4% during the third quarter. Handelsbanken Fonder AB now owns 135,422 shares of the industrial products company’s stock valued at $36,970,000 after acquiring an additional 10,476 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Caterpillar by 5.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,856 shares of the industrial products company’s stock worth $507,000 after purchasing an additional 103 shares during the last quarter. Connecticut Wealth Management LLC bought a new stake in shares of Caterpillar in the third quarter worth about $393,000. Ballentine Partners LLC increased its holdings in shares of Caterpillar by 2.9% in the third quarter. Ballentine Partners LLC now owns 5,786 shares of the industrial products company’s stock worth $1,580,000 after purchasing an additional 165 shares during the last quarter. Finally, TFG Advisers LLC increased its holdings in shares of Caterpillar by 6.5% in the third quarter. TFG Advisers LLC now owns 1,660 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 101 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

About Caterpillar

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