Caterpillar (NYSE:CAT) Given New $375.00 Price Target at Evercore ISI

Caterpillar (NYSE:CAT) had its target price upped by Evercore ISI from $365.00 to $375.00 in a research note released on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the industrial products company’s stock.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. DA Davidson increased their price target on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Bank of America dropped their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $383.80.

Caterpillar Stock Performance

NYSE CAT opened at $353.26 on Wednesday. The company has a market capitalization of $170.55 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.88 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar has a twelve month low of $307.05 and a twelve month high of $418.50. The stock has a fifty day simple moving average of $370.89 and a 200 day simple moving average of $372.54.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts expect that Caterpillar will post 19.98 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 25.56%.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares in the company, valued at $13,714,323.35. This represents a 15.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm’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 transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock valued at $7,226,584 over the last three months. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAT. FSM Wealth Advisors LLC increased its position in shares of Caterpillar by 3.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 25 shares during the last quarter. Allen Capital Group LLC raised its stake in shares of Caterpillar by 0.6% during the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after purchasing an additional 26 shares during the period. Wagner Wealth Management LLC boosted its holdings in shares of Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after buying an additional 26 shares during the last quarter. First Bank & Trust grew its position in Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after buying an additional 27 shares during the period. Finally, Washington Trust Bank increased its holdings in Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

About Caterpillar

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.