Caterpillar (NYSE:CAT) Given New $325.00 Price Target at DA Davidson

Caterpillar (NYSE:CAT) had its target price trimmed by DA Davidson from $357.00 to $325.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also issued reports on the company. Truist Financial reduced their price target on Caterpillar from $438.00 to $389.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price target for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Bank of America lowered their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $359.36.

Caterpillar Trading Down 3.4 %

CAT stock opened at $284.31 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a market cap of $135.88 billion, a P/E ratio of 12.88, a PEG ratio of 1.87 and a beta of 1.21. The business has a fifty day moving average of $325.73 and a 200-day moving average of $362.79.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, equities research analysts expect that Caterpillar will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar’s payout ratio is presently 25.56%.

Insider Buying and Selling at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

A number of large investors have recently made changes to their positions in CAT. Flagship Wealth Advisors LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar during the fourth quarter worth approximately $33,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Company Profile

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.