Caterpillar Inc. (CAT) Rating Reiterated by Jefferies Group
Caterpillar Inc. (NYSE:CAT)‘s stock had its “hold” rating reissued by analysts at Jefferies Group in a note issued to investors on Tuesday. They presently have a $80.00 price objective on the stock. Jefferies Group’s price target suggests a potential downside of 8.28% from the company’s current price.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Thursday, October 13th. Barclays PLC lifted their target price on shares of Caterpillar from $78.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 12th. Vetr raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $96.01 target price on the stock in a research note on Wednesday, October 12th. Goldman Sachs Group Inc. raised shares of Caterpillar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $112.00 in a research note on Tuesday, October 11th. Finally, Bank of America Corp. reaffirmed a “hold” rating and set a $92.00 target price on shares of Caterpillar in a research note on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.48.
Caterpillar (NYSE:CAT) traded down 0.08% on Tuesday, reaching $87.22. 3,715,717 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $84.61 and a 200-day moving average of $79.21. Caterpillar has a one year low of $56.36 and a one year high of $89.87. The stock has a market cap of $50.96 billion, a price-to-earnings ratio of 58.15 and a beta of 1.54.
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Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the previous year, the company posted $1.27 EPS. The firm’s quarterly revenue was down 16.0% on a year-over-year basis. Equities research analysts forecast that Caterpillar will post $3.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Shareholders of record on Monday, October 24th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, October 20th. Caterpillar’s dividend payout ratio is 165.59%.
In related news, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dennis A. Muilenburg bought 1,930 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the transaction, the director now owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in Caterpillar by 23.3% in the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 3,965 shares of the company’s stock worth $351,000 after buying an additional 750 shares in the last quarter. Eidelman Virant Capital increased its stake in Caterpillar by 2.5% in the third quarter. Eidelman Virant Capital now owns 7,276 shares of the company’s stock worth $645,000 after buying an additional 180 shares in the last quarter. Regent Investment Management LLC bought a new stake in Caterpillar during the third quarter worth about $220,000. Puplava Financial Services Inc. bought a new stake in Caterpillar during the third quarter worth about $1,885,000. Finally, MAI Capital Management bought a new stake in Caterpillar during the third quarter worth about $216,000. 68.99% of the stock is currently owned by institutional investors and hedge funds.
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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