Caterpillar (NYSE:CAT) Upgraded at UBS Group

UBS Group upgraded shares of Caterpillar (NYSE:CAT) from a sell rating to a neutral rating in a research report report published on Friday morning, Marketbeat.com reports. They currently have $357.00 target price on the industrial products company’s stock, up from their previous target price of $272.00.

CAT has been the subject of several other research reports. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target for the company in a report on Thursday, May 1st. Bank of America decreased their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, DA Davidson boosted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus target price of $375.50.

Caterpillar Price Performance

CAT opened at $353.60 on Friday. The company has a fifty day moving average price of $317.42 and a two-hundred day moving average price of $353.76. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar has a 52 week low of $267.30 and a 52 week high of $418.50. The firm has a market capitalization of $166.56 billion, a PE ratio of 16.02, a P/E/G ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the firm earned $5.60 EPS. Caterpillar’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, analysts anticipate that Caterpillar will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Monday, April 21st. Caterpillar’s payout ratio is presently 27.49%.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David Maclennan purchased 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $31,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Caterpillar in the 4th quarter valued at about $33,000. 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.