Caterpillar, Inc. (CAT) PT Set at $120.00 by Bank of America Corporation
Caterpillar, Inc. (NYSE:CAT) has been given a $120.00 price target by analysts at Bank of America Corporation in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America Corporation’s target price points to a potential upside of 15.98% from the company’s previous close.
A number of other research firms also recently commented on CAT. BMO Capital Markets reiterated a “hold” rating and set a $110.00 target price on shares of Caterpillar in a research report on Wednesday. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Friday, June 16th. Raymond James Financial, Inc. upgraded Caterpillar to a “buy” rating and set a $55.00 target price for the company in a research report on Thursday, April 27th. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 target price for the company. in a research report on Tuesday, April 25th. Finally, Stifel Nicolaus lowered their target price on Caterpillar from $111.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $96.76.
Caterpillar (NYSE CAT) traded down 3.34% on Tuesday, hitting $103.47. 6,274,065 shares of the company’s stock traded hands. Caterpillar has a 12 month low of $70.53 and a 12 month high of $108.18. The stock’s market cap is $60.95 billion. The stock has a 50 day moving average price of $103.50 and a 200-day moving average price of $97.23.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, April 25th. The industrial products company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.66. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.27 billion. Caterpillar had a positive return on equity of 16.46% and a negative net margin of 0.38%. The company’s quarterly 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 EPS. Equities analysts predict that Caterpillar will post $4.13 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be paid a $0.78 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.02%. Caterpillar’s dividend payout ratio (DPR) is presently -1,140.70%.
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Hedge funds have recently added to or reduced their stakes in the company. Howe & Rusling Inc. increased its position 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 during the last quarter. Harbour Capital Advisors LLC purchased a new position in Caterpillar during the first quarter worth about $107,000. First Personal Financial Services increased its position 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 during the last quarter. Harfst & Associates Inc. purchased a new position in Caterpillar during the first quarter worth about $111,000. Finally, Financial Architects Inc increased its position 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 during the last quarter. Institutional investors and hedge funds own 72.48% of the company’s stock.
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