Caterpillar, Inc. (NYSE:CAT) Receives Average Recommendation of “Hold” from Analysts
Caterpillar, Inc. (NYSE:CAT) has earned a consensus rating of “Hold” from the twenty-seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $102.26.
Several equities analysts recently issued reports on CAT shares. Vetr downgraded shares of Caterpillar from a “hold” rating to a “sell” rating and set a $89.96 price target for the company. in a report on Tuesday, March 28th. Zacks Investment Research downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Wednesday, March 29th. Goldman Sachs Group, Inc. (The) raised shares of Caterpillar from a “buy” rating to a “conviction-buy” rating and set a $120.00 price target for the company in a report on Tuesday, April 4th. Deutsche Bank AG cut their price target on shares of Caterpillar from $108.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 6th. Finally, Robert W. Baird set a $102.00 price target on shares of Caterpillar and gave the company a “hold” rating in a report on Wednesday, April 12th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Howe & Rusling Inc. raised its position in shares of 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 bought a new position in shares of Caterpillar during the first quarter worth $107,000. First Personal Financial Services raised its position in shares of 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. bought a new position in shares of Caterpillar during the first quarter worth $111,000. Finally, Financial Architects Inc raised its position in shares of 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. 70.69% of the stock is currently owned by hedge funds and other institutional investors.
Caterpillar (CAT) traded up 1.49% on Monday, reaching $108.18. 5,973,055 shares of the company’s stock traded hands. The stock’s market capitalization is $63.73 billion. Caterpillar has a 52-week low of $78.34 and a 52-week high of $110.00. The firm’s 50-day moving average is $106.32 and its 200 day moving average is $99.06.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that Caterpillar will post $4.27 EPS for the current year.
The business also recently declared 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. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.88%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is presently -1,155.51%.
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