Caterpillar’s (CAT) “Sell” Rating Reiterated at Axiom Securities
Caterpillar, Inc. (NYSE:CAT)‘s stock had its “sell” rating reiterated by investment analysts at Axiom Securities in a research note issued to investors on Friday.
Several other research firms have also commented on CAT. Credit Suisse Group set a $111.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research report on Monday, March 20th. Jefferies Group LLC restated a “hold” rating and set a $85.00 price target on shares of Caterpillar in a research report on Friday, March 3rd. Bank of America Corporation restated a “neutral” rating and set a $105.00 price target on shares of Caterpillar in a research report on Monday, March 6th. Evercore ISI upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Thursday, February 16th. Finally, Zacks Investment Research lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $94.65.
Caterpillar (CAT) opened at 107.60 on Friday. The stock’s market capitalization is $63.39 billion. Caterpillar has a 12 month low of $70.53 and a 12 month high of $107.91. The firm’s 50-day moving average is $103.21 and its 200 day moving average is $97.03.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.66. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Caterpillar had a negative net margin of 0.38% and a positive return on equity of 16.46%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. On average, equities analysts anticipate that Caterpillar will post $4.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a yield of 2.90%. Caterpillar’s dividend payout ratio is currently -1,140.70%.
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A number of hedge funds have recently bought and sold shares of CAT. Howe & Rusling Inc. raised its stake in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in Caterpillar during the first quarter worth approximately $107,000. First Personal Financial Services raised its stake in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after buying an additional 750 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in Caterpillar during the first quarter worth approximately $111,000. Finally, Financial Architects Inc raised its stake in Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after buying an additional 65 shares in the last quarter. 72.50% of the stock is owned by institutional investors.
Caterpillar Company Profile
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