Caterpillar, Inc. (CAT) Receives Average Rating of “Hold” from Analysts
Caterpillar, Inc. (NYSE:CAT) has earned a consensus recommendation of “Hold” from the thirty ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $133.70.
CAT has been the topic of a number of recent research reports. TheStreet raised Caterpillar from a “c+” rating to a “b” rating in a report on Tuesday, July 25th. Deutsche Bank AG lowered their target price on Caterpillar from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Credit Suisse Group set a $123.00 target price on Caterpillar and gave the company a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday, July 14th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Caterpillar in a report on Thursday, July 27th.
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Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The firm had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s dividend payout ratio is currently 216.67%.
In other Caterpillar news, Director Daniel M. Dickinson sold 3,813 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $137.09, for a total transaction of $522,724.17. Following the transaction, the director now directly owns 6,554 shares in the company, valued at approximately $898,487.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,244 shares of company stock valued at $2,323,084 over the last three months. 0.14% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beach Investment Management LLC. purchased a new position in Caterpillar during the 2nd quarter worth $231,000. NGAM Advisors L.P. increased its holdings in Caterpillar by 2.9% during the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after purchasing an additional 2,286 shares during the period. Bank of Nova Scotia increased its holdings in Caterpillar by 527.0% during the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after purchasing an additional 164,989 shares during the period. Bancorpsouth Inc. increased its holdings in Caterpillar by 1.2% during the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 69 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Caterpillar during the 1st quarter worth $46,917,000. Institutional investors own 69.34% of the company’s stock.
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