Caterpillar (NYSE:CAT) Given New $920.00 Price Target at Truist Financial

Caterpillar (NYSE:CAT) had its target price upped by Truist Financial from $786.00 to $920.00 in a research note issued to investors on Monday morning, MarketBeat.com reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

CAT has been the subject of several other research reports. Morgan Stanley boosted their price objective on shares of Caterpillar from $425.00 to $430.00 and gave the company an “underweight” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $765.00 to $860.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Wolfe Research boosted their price objective on shares of Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Barclays boosted their price objective on shares of Caterpillar from $625.00 to $700.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 31st. Finally, Argus boosted their price objective on shares of Caterpillar from $625.00 to $820.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $757.55.

Caterpillar Price Performance

CAT opened at $798.76 on Monday. The company has a market capitalization of $371.66 billion, a price-to-earnings ratio of 42.44, a PEG ratio of 1.86 and a beta of 1.52. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average price of $736.37 and a 200-day moving average price of $638.56. Caterpillar has a twelve month low of $282.46 and a twelve month high of $801.77.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.49. The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned $5.14 earnings per share. Equities analysts expect that Caterpillar will post 22.85 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Monday, April 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, April 20th. Caterpillar’s payout ratio is currently 32.09%.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 22,656 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $720.11, for a total value of $16,314,812.16. Following the completion of the transaction, the insider owned 79,953 shares of the company’s stock, valued at $57,574,954.83. The trade was a 22.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise C. Johnson sold 39,138 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the completion of the transaction, the insider directly owned 43,350 shares of the company’s stock, valued at approximately $29,524,818. This represents a 47.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 125,950 shares of company stock worth $88,577,390. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently bought and sold shares of CAT. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $579,000. Brighton Jones LLC lifted its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the last quarter. United Bank lifted its holdings in shares of Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company’s stock worth $1,585,000 after acquiring an additional 2,125 shares during the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of Caterpillar by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock worth $3,551,000 after acquiring an additional 347 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Caterpillar by 6.5% in the 2nd quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company’s stock worth $222,120,000 after acquiring an additional 34,846 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.