Citigroup Issues Positive Forecast for Caterpillar (NYSE:CAT) Stock Price

Caterpillar (NYSE:CAT) had its price objective raised by Citigroup from $320.00 to $370.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other research firms have also issued reports on CAT. Baird R W raised shares of Caterpillar from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 1st. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Robert W. Baird upgraded Caterpillar from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $300.00 to $309.00 in a report on Thursday, May 1st. Truist Financial restated a “buy” rating and issued a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Finally, Evercore ISI lifted their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $370.67.

Caterpillar Trading Down 0.2 %

Caterpillar stock opened at $323.04 on Monday. The company has a market cap of $154.39 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.87 and a beta of 1.35. The firm has a 50-day moving average of $317.79 and a 200-day moving average of $356.78. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar has a one year low of $267.30 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company posted $5.60 earnings per share. On average, equities analysts expect that Caterpillar will post 19.86 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, May 20th. Shareholders of record on Monday, April 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar’s payout ratio is 27.49%.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

Large investors have recently modified their holdings of the stock. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar during the 4th quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new position in Caterpillar in the 4th quarter valued at approximately $33,000. 70.98% of the stock is owned by institutional investors and hedge funds.

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.