Caterpillar (NYSE:CAT) Earns Market Perform Rating from Analysts at Raymond James

Raymond James began coverage on shares of Caterpillar (NYSE:CATFree Report) in a research note published on Friday, MarketBeat reports. The firm issued a market perform rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on CAT. Citigroup started coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a buy rating and a $380.00 target price on the stock. HSBC upped their price objective on Caterpillar from $330.00 to $360.00 and gave the stock a hold rating in a report on Tuesday, April 30th. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They issued a buy rating and a $390.00 price objective for the company. The Goldman Sachs Group upped their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus cut Caterpillar from a buy rating to a hold rating and upped their price objective for the stock from $293.00 to $350.00 in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of Hold and an average price target of $329.63.

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Caterpillar Stock Performance

NYSE:CAT opened at $333.10 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar has a 52-week low of $223.76 and a 52-week high of $382.01. The firm has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.71 and a beta of 1.14. The business’s fifty day moving average is $340.31 and its 200 day moving average is $329.47.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Research analysts predict that Caterpillar will post 21.84 EPS for the current year.

Caterpillar declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.69%. Caterpillar’s dividend payout ratio is presently 25.46%.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Maclennan acquired 500 shares of Caterpillar stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAT. Partnership Wealth Management LLC purchased a new stake in Caterpillar during the 4th quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in Caterpillar during the 4th quarter valued at $27,000. Thompson Investment Management Inc. purchased a new stake in Caterpillar during the 1st quarter valued at $27,000. Fairman Group LLC purchased a new stake in Caterpillar during the 1st quarter valued at $29,000. Finally, Gilfoyle & Co LLC purchased a new stake in Caterpillar during the 4th quarter valued at $30,000. Institutional investors own 70.98% of the company’s stock.

About Caterpillar

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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.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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