Caterpillar (NYSE:CAT) Price Target Increased to $340.00 by Analysts at TD Cowen

Caterpillar (NYSE:CAT) had its price target lifted by TD Cowen from $338.00 to $340.00 in a report published on Friday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the industrial products company’s stock.

Several other equities analysts also recently issued reports on CAT. Wells Fargo & Company increased their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Evercore ISI lowered Caterpillar from an outperform rating to an in-line rating and lifted their price target for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Stifel Nicolaus lowered Caterpillar from a buy rating to a hold rating and raised their price objective for the company from $293.00 to $350.00 in a report on Friday. The Goldman Sachs Group boosted their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, Citigroup lifted their price objective on Caterpillar from $255.00 to $340.00 and gave the stock a neutral rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of Hold and a consensus price target of $316.88.

Caterpillar Trading Up 1.6 %

Caterpillar stock opened at $343.38 on Friday. The stock’s 50 day simple moving average is $350.10 and its two-hundred day simple moving average is $301.19. Caterpillar has a 12 month low of $204.04 and a 12 month high of $382.01. The firm has a market cap of $171.48 billion, a PE ratio of 15.50, a P/E/G ratio of 1.53 and a beta of 1.17. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Analysts anticipate that Caterpillar will post 21.44 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 23.48%.

Insider Activity

In related news, 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 transaction of $6,899,070.88. Following the completion of the transaction, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, Director David Maclennan purchased 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $323.37 per share, with a total value of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,769 shares of company stock valued at $11,508,906. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of hedge funds have recently added to or reduced their stakes in CAT. Partnership Wealth Management LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at $26,000. Richardson Financial Services Inc. purchased a new position in shares of Caterpillar in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar during the first quarter worth about $27,000. Gilfoyle & Co LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $30,000. Finally, Vima LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $30,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.