Caterpillar, Inc. (CAT) Receives Average Recommendation of “Hold” from Analysts
Caterpillar, Inc. (NYSE:CAT) has earned a consensus recommendation of “Hold” from the twenty-nine research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $110.59.
A number of brokerages recently issued reports on CAT. Credit Suisse Group reiterated a “buy” rating and set a $123.00 target price on shares of Caterpillar in a research report on Thursday, June 22nd. Vetr lowered shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 target price on the stock. in a research note on Tuesday, April 25th. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research note on Tuesday, June 20th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $125.00 target price on shares of Caterpillar in a research note on Sunday, July 30th. Finally, BMO Capital Markets reissued a “hold” rating and set a $110.00 price objective on shares of Caterpillar in a research note on Wednesday, June 21st.
Caterpillar (NYSE:CAT) traded up 0.69% during midday trading on Friday, hitting $113.92. 3,874,116 shares of the stock traded hands. Caterpillar has a 1-year low of $79.93 and a 1-year high of $115.46. The stock has a market cap of $67.32 billion, a PE ratio of 636.42 and a beta of 1.25. The company has a 50-day moving average of $110.79 and a 200-day moving average of $101.65.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company posted $1.09 EPS. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts expect that Caterpillar will post $5.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be given a dividend of $0.78 per share. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 annualized dividend and a yield of 2.74%. Caterpillar’s dividend payout ratio is currently 2,080.00%.
In related news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 in the last ninety days. 0.15% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Howe & Rusling Inc. boosted its stake in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in Caterpillar during the second quarter valued at $104,000. Motco boosted its stake in Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Caterpillar during the first quarter valued at $107,000. 70.27% of the stock is owned by institutional investors and hedge funds.
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