Caterpillar (NYSE:CAT) Price Target Lowered to $165.00 at Morgan Stanley

Caterpillar (NYSE:CAT) had its price objective cut by Morgan Stanley from $172.00 to $165.00 in a research report released on Wednesday, PriceTargets.com reports. They currently have an underweight rating on the industrial products company’s stock.

CAT has been the topic of several other reports. Deutsche Bank Aktiengesellschaft decreased their price target on Caterpillar from $258.00 to $241.00 and set a buy rating on the stock in a research report on Monday, August 2nd. Tigress Financial reiterated a buy rating and set a $270.00 price target on shares of Caterpillar in a research report on Friday, August 6th. Zacks Investment Research cut Caterpillar from a buy rating to a hold rating and set a $226.00 price target on the stock. in a research report on Wednesday, June 30th. Citigroup upped their price target on Caterpillar from $215.00 to $235.00 and gave the company a neutral rating in a research report on Tuesday. Finally, Credit Suisse Group decreased their price target on Caterpillar from $268.00 to $256.00 and set an outperform rating on the stock in a research report on Monday, August 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $232.95.

Shares of Caterpillar stock opened at $188.94 on Wednesday. Caterpillar has a 52-week low of $149.63 and a 52-week high of $246.69. The stock’s 50-day simple moving average is $204.12 and its 200 day simple moving average is $218.25. The stock has a market capitalization of $103.44 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.10 and a current ratio of 1.56.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, July 29th. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.22. Caterpillar had a return on equity of 30.80% and a net margin of 9.57%. The business had revenue of $12.89 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts forecast that Caterpillar will post 10.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 19th. Shareholders of record on Monday, October 25th will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.35%. Caterpillar’s dividend payout ratio is currently 67.68%.

In other news, Director David Maclennan bought 500 shares of the business’s stock in a transaction on Wednesday, August 4th. The stock was acquired at an average price of $206.20 per share, with a total value of $103,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Haverford Trust Co. boosted its stake in shares of Caterpillar by 0.4% during the second quarter. Haverford Trust Co. now owns 12,714 shares of the industrial products company’s stock valued at $2,767,000 after purchasing an additional 48 shares during the period. Assetmark Inc. boosted its stake in shares of Caterpillar by 6.1% during the second quarter. Assetmark Inc. now owns 829 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 48 shares during the period. Baron Financial Group LLC boosted its stake in shares of Caterpillar by 14.3% during the first quarter. Baron Financial Group LLC now owns 400 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 50 shares during the period. Capital Advisors Inc. OK boosted its stake in shares of Caterpillar by 4.3% during the first quarter. Capital Advisors Inc. OK now owns 1,213 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 50 shares during the period. Finally, TownSquare Capital LLC boosted its stake in shares of Caterpillar by 1.6% during the first quarter. TownSquare Capital LLC now owns 3,205 shares of the industrial products company’s stock valued at $743,000 after purchasing an additional 50 shares during the period. 67.82% of the stock is owned by institutional investors and hedge funds.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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