JPMorgan Chase & Co. Cuts Caterpillar (NYSE:CAT) Price Target to $380.00

Caterpillar (NYSE:CAT) had its price objective trimmed by JPMorgan Chase & Co. from $490.00 to $380.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley lowered their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Bank of America lowered their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Citigroup reduced their price target on shares of Caterpillar from $430.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Finally, Truist Financial cut their target price on shares of Caterpillar from $438.00 to $389.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $365.87.

Caterpillar Price Performance

NYSE CAT opened at $298.07 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a market cap of $142.46 billion, a PE ratio of 13.51, a PEG ratio of 1.87 and a beta of 1.21. The stock’s 50-day moving average price is $332.75 and its two-hundred day moving average price is $366.35.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, analysts predict 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 Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.89%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Insider Activity at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Caterpillar by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after purchasing an additional 5,371 shares during the period. SOA Wealth Advisors LLC. grew its position in Caterpillar by 47.2% during the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after buying an additional 50 shares in the last quarter. Tudor Financial Inc. acquired a new position in Caterpillar in the 3rd quarter valued at approximately $854,000. Anchor Investment Management LLC lifted its position in shares of Caterpillar by 2.9% in the 3rd quarter. Anchor Investment Management LLC now owns 13,317 shares of the industrial products company’s stock worth $5,208,000 after acquiring an additional 376 shares during the period. Finally, World Investment Advisors LLC grew its holdings in shares of Caterpillar by 26.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,012 shares of the industrial products company’s stock worth $1,569,000 after purchasing an additional 843 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

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.