Caterpillar Inc. (NYSE:CAT) Receives $355.50 Average PT from Brokerages

Shares of Caterpillar Inc. (NYSE:CATGet Free Report) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $357.56.

A number of brokerages have recently issued reports on CAT. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. UBS Group increased their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th.

Check Out Our Latest Report on CAT

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors have recently made changes to their positions in CAT. Transcendent Capital Group LLC boosted its holdings in Caterpillar by 122.5% in the third quarter. Transcendent Capital Group LLC now owns 1,324 shares of the industrial products company’s stock worth $518,000 after purchasing an additional 729 shares during the last quarter. Houlihan Financial Resource Group Ltd. purchased a new stake in Caterpillar in the third quarter worth approximately $295,000. Essex Savings Bank boosted its holdings in Caterpillar by 3.1% in the third quarter. Essex Savings Bank now owns 6,244 shares of the industrial products company’s stock worth $2,442,000 after purchasing an additional 186 shares during the last quarter. Field & Main Bank raised its position in Caterpillar by 0.6% in the third quarter. Field & Main Bank now owns 7,828 shares of the industrial products company’s stock worth $3,062,000 after acquiring an additional 45 shares during the period. Finally, Kerusso Capital Management LLC raised its position in Caterpillar by 6.4% in the third quarter. Kerusso Capital Management LLC now owns 4,585 shares of the industrial products company’s stock worth $1,793,000 after acquiring an additional 276 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.9 %

CAT opened at $379.63 on Friday. The company has a market cap of $184.08 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. The company has a 50 day moving average of $372.40 and a 200 day moving average of $351.42. Caterpillar has a 12 month low of $232.88 and a 12 month high of $403.60. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the previous year, the firm posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar will post 21.88 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

About Caterpillar

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.