Caterpillar (NYSE:CAT) Given Buy (B) Rating at Weiss Ratings

Weiss Ratings reiterated their buy (b) rating on shares of Caterpillar (NYSE:CAT) in a research report report published on Tuesday morning,Weiss Ratings reports.

Several other research analysts have also recently weighed in on the company. UBS Group boosted their target price on Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group lifted their price target on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Truist Financial boosted their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. Finally, Bank of America boosted their target price on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $501.47.

Caterpillar Price Performance

NYSE:CAT opened at $528.75 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar has a 52 week low of $267.30 and a 52 week high of $531.56. The stock has a market capitalization of $247.71 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.46. The stock’s 50-day moving average price is $446.55 and its 200-day moving average price is $386.71.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that Caterpillar will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s payout ratio is presently 30.72%.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,985 shares of company stock worth $25,559,300. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several large investors have recently bought and sold shares of CAT. Kilter Group LLC acquired a new position in Caterpillar in the second quarter valued at $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar in the second quarter valued at $28,000. Compass Financial Services Inc boosted its stake in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the second quarter valued at about $32,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Caterpillar in the second quarter valued at about $32,000. Institutional investors and hedge funds 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.