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.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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%.

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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

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