Caterpillar, Inc. (CAT) Earns Buy Rating from Credit Suisse Group
Caterpillar, Inc. (NYSE:CAT)‘s stock had its “buy” rating reiterated by stock analysts at Credit Suisse Group in a note issued to investors on Thursday. They currently have a $123.00 price target on the industrial products company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 18.14% from the company’s current price.
CAT has been the topic of several other research reports. Vetr cut Caterpillar from a “buy” rating to a “hold” rating and set a $95.98 price objective on the stock. in a research report on Monday, March 6th. Goldman Sachs Group, Inc. (The) raised Caterpillar from a “buy” rating to a “conviction-buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday, April 4th. Robert W. Baird set a $102.00 price objective on Caterpillar and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $110.00 price target on shares of Caterpillar in a research report on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and an average price target of $96.76.
Caterpillar (NYSE CAT) traded up 0.26% during midday trading on Thursday, reaching $104.11. The company had a trading volume of 12,089,818 shares. The firm’s market capitalization is $61.33 billion. The stock’s 50 day moving average is $103.50 and its 200 day moving average is $97.23. Caterpillar has a 12-month low of $70.53 and a 12-month high of $108.18.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.66. Caterpillar had a positive return on equity of 16.46% and a negative net margin of 0.38%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that Caterpillar will post $4.13 earnings per share for the current 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. This represents a $3.12 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, July 18th. Caterpillar’s dividend payout ratio is currently -1,140.70%.
WARNING: This report was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/06/25/caterpillar-inc-cat-earns-buy-rating-from-credit-suisse-group.html.
A number of institutional investors have recently made changes to their positions in CAT. Vanguard Group Inc. raised its position in shares of 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 in the last quarter. FMR LLC raised its position in shares of Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares in the last quarter. Morgan Stanley raised its position in shares of 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 in the last quarter. Primecap Management Co. CA raised its position in shares of Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares in the last quarter. Institutional investors and hedge funds own 72.48% of the company’s stock.
Caterpillar Company Profile
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.