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

Shares of Caterpillar Inc. (NYSE:CAT) have received an average recommendation of “Hold” from the eighteen analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $355.50.

A number of analysts have recently commented on CAT shares. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th.

Caterpillar Stock Performance

Shares of CAT opened at $390.61 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar has a twelve month low of $223.76 and a twelve month high of $403.60. The firm’s 50 day moving average price is $369.49 and its two-hundred day moving average price is $350.79. The firm has a market cap of $191.03 billion, a P/E ratio of 17.63, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the previous year, the firm posted $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, analysts forecast that Caterpillar will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.44%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC increased its position in Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 26 shares during the period. First Bank & Trust lifted its stake in Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 27 shares in the last quarter. Pacifica Partners Inc. lifted its stake in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after acquiring an additional 28 shares in the last quarter. Vanguard Capital Wealth Advisors lifted its stake in Caterpillar by 0.8% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after acquiring an additional 28 shares in the last quarter. Finally, Souders Financial Advisors raised its stake in shares of Caterpillar by 0.8% during the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock worth $1,218,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.