Caterpillar, Inc. (CAT) Lowered to Hold at Deutsche Bank AG
Caterpillar, Inc. (NYSE:CAT) was downgraded by stock analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $106.00 price target on the industrial products company’s stock, down from their previous price target of $121.00. Deutsche Bank AG’s target price would suggest a potential upside of 2.08% from the company’s previous close.
A number of other equities research analysts have also commented on the stock. Credit Suisse Group reissued a “buy” rating and set a $123.00 price objective on shares of Caterpillar in a report on Thursday. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research report on Tuesday. BMO Capital Markets restated a “hold” rating and set a $110.00 target price on shares of Caterpillar in a research report on Wednesday. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research report on Friday, June 16th. Finally, Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $107.75 target price on the stock. in a research report on Tuesday, May 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $96.76.
Caterpillar (NYSE:CAT) traded up 0.13% during mid-day trading on Friday, hitting $103.97. 2,159,117 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $103.50 and a 200 day moving average of $97.23. The stock’s market capitalization is $61.25 billion. Caterpillar has a 52 week low of $70.53 and a 52 week high of $108.18.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.66. Caterpillar had a negative net margin of 0.38% and a positive return on equity of 16.46%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Thursday, July 20th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.00%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, July 18th. Caterpillar’s dividend payout ratio is presently -1,140.70%.
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A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Caterpillar during the fourth quarter worth about $414,361,000. FMR LLC boosted its stake in Caterpillar by 25.8% in the fourth quarter. FMR LLC now owns 15,763,049 shares of the industrial products company’s stock worth $1,461,865,000 after buying an additional 3,228,098 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Caterpillar during the first quarter worth about $143,490,000. Morgan Stanley boosted its stake in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. 72.48% of the stock is owned by institutional investors and hedge funds.
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