Buckingham Research started coverage on shares of Caterpillar (NYSE:CAT) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $170.00 price objective on the industrial products company’s stock.
Other equities research analysts have also recently issued reports about the stock. Barclays began coverage on shares of Caterpillar in a research report on Tuesday, December 12th. They issued an overweight rating and a $162.00 price target for the company. ValuEngine raised shares of Caterpillar from a hold rating to a buy rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of Caterpillar from a sell rating to a hold rating in a research report on Monday, April 9th. Citigroup reissued a neutral rating and issued a $185.00 price target (up from $160.00) on shares of Caterpillar in a research report on Friday, January 19th. Finally, UBS boosted their price target on shares of Caterpillar from $180.00 to $190.00 and gave the company a buy rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Caterpillar presently has an average rating of Buy and a consensus target price of $171.60.
Caterpillar stock opened at $150.23 on Wednesday. The firm has a market cap of $89,727.54, a PE ratio of 21.84, a PEG ratio of 1.37 and a beta of 1.30. Caterpillar has a 12-month low of $92.98 and a 12-month high of $173.24. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. During the same period in the previous year, the company earned $0.83 earnings per share. Caterpillar’s quarterly revenue was up 34.7% compared to the same quarter last year. sell-side analysts forecast that Caterpillar will post 9.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, May 19th. Stockholders of record on Monday, April 23rd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.08%. Caterpillar’s payout ratio is 45.35%.
In other news, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the transaction, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the transaction, the general counsel now owns 19,646 shares in the company, valued at $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Garde Capital Inc. increased its stake in shares of Caterpillar by 6.8% during the fourth quarter. Garde Capital Inc. now owns 6,287 shares of the industrial products company’s stock worth $991,000 after acquiring an additional 400 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Caterpillar by 7.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 113,442 shares of the industrial products company’s stock worth $17,876,000 after acquiring an additional 8,255 shares during the period. Colonial Trust Advisors increased its stake in shares of Caterpillar by 25.4% during the fourth quarter. Colonial Trust Advisors now owns 18,716 shares of the industrial products company’s stock worth $2,949,000 after acquiring an additional 3,796 shares during the period. Cedar Hill Associates LLC increased its stake in shares of Caterpillar by 11.2% during the fourth quarter. Cedar Hill Associates LLC now owns 7,839 shares of the industrial products company’s stock worth $1,235,000 after acquiring an additional 791 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Caterpillar by 14.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 55,029 shares of the industrial products company’s stock worth $8,671,000 after acquiring an additional 6,913 shares during the period. Institutional investors and hedge funds own 69.23% of the company’s stock.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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