Caterpillar (NYSE:CAT) Price Target Raised to $612.00 at Robert W. Baird

Caterpillar (NYSE:CAT) had its target price lifted by Robert W. Baird from $540.00 to $612.00 in a research note released on Monday,MarketScreener reports.

Several other brokerages have also recently issued reports on CAT. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Bank of America raised their price objective on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. UBS Group raised their price objective on shares of Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $515.40.

Caterpillar Stock Performance

Shares of CAT stock opened at $531.80 on Monday. The stock has a market capitalization of $249.13 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 3.00 and a beta of 1.46. Caterpillar has a 52-week low of $267.30 and a 52-week high of $544.99. The stock’s 50-day moving average price is $455.85 and its 200 day moving average price is $393.23. 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 (NYSE:CAT) last issued its quarterly earnings results 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). The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $5.99 EPS. As a group, equities research analysts forecast that Caterpillar will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

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

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman directly owned 448,173 shares in the company, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,985 shares of company stock worth $25,559,300. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kilter Group LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $32,000. RiverPark Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Finally, Harbor Asset Planning Inc. purchased a new stake in Caterpillar in the 2nd quarter worth approximately $34,000. 70.98% of the stock is currently 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.