Caterpillar Inc. (CAT) Given Hold Rating at Jefferies Group
Caterpillar Inc. (NYSE:CAT)‘s stock had its “hold” rating reissued by equities researchers at Jefferies Group in a research note issued to investors on Tuesday. They currently have a $80.00 price objective on the stock. Jefferies Group’s price target would suggest a potential downside of 8.35% from the stock’s previous close.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a report on Tuesday, August 30th. Citigroup Inc. set a $82.00 target price on shares of Caterpillar and gave the stock a “hold” rating in a report on Tuesday, August 16th. Credit Suisse Group AG set a $90.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 28th. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $67.00 target price on shares of Caterpillar in a report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $76.48.
Caterpillar (NYSE:CAT) opened at 87.29 on Tuesday. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.87. The firm’s 50-day moving average price is $84.49 and its 200 day moving average price is $79.13. The firm has a market cap of $51.00 billion, a P/E ratio of 58.19 and a beta of 1.54.
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Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The firm had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business’s revenue was down 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. Analysts forecast that Caterpillar will post $3.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, October 20th. Caterpillar’s payout ratio is presently 165.59%.
In other Caterpillar news, Director Dennis A. Muilenburg bought 1,930 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was bought at an average cost of $82.75 per share, with a total value of $159,707.50. Following the completion of the transaction, the director now directly owns 9,558 shares in the company, valued at approximately $790,924.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the sale, the insider now directly owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
Several large investors have recently bought and sold shares of CAT. Nisa Investment Advisors LLC boosted its position in Caterpillar by 11.7% in the second quarter. Nisa Investment Advisors LLC now owns 239,920 shares of the company’s stock valued at $18,188,000 after buying an additional 25,210 shares during the period. Edgar Lomax Co. VA boosted its position in Caterpillar by 30.6% in the first quarter. Edgar Lomax Co. VA now owns 535,350 shares of the company’s stock valued at $40,976,000 after buying an additional 125,500 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Caterpillar by 4.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 330,980 shares of the company’s stock valued at $25,333,000 after buying an additional 13,839 shares during the period. Alps Advisors Inc. boosted its position in Caterpillar by 15.3% in the second quarter. Alps Advisors Inc. now owns 345,841 shares of the company’s stock valued at $26,218,000 after buying an additional 45,798 shares during the period. Finally, PGGM Investments boosted its position in Caterpillar by 8.1% in the second quarter. PGGM Investments now owns 806,656 shares of the company’s stock valued at $61,153,000 after buying an additional 60,615 shares during the period. 68.99% of the stock is owned by institutional investors.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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