UBS Group upgraded shares of Caterpillar (NYSE:CAT – Free Report) from a sell rating to a neutral rating in a report issued on Monday, Marketbeat Ratings reports. They currently have $385.00 price objective on the industrial products company’s stock, up from their prior price objective of $355.00.
A number of other equities research analysts have also weighed in on CAT. Truist Financial cut their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group increased their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America reduced their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley dropped their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $381.00.
View Our Latest Stock Analysis on CAT
Caterpillar Stock Performance
Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Analysts expect that Caterpillar will post 21.45 earnings per share for the current year.
Caterpillar Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.56%. Caterpillar’s dividend payout ratio is currently 25.56%.
Insider Transactions at Caterpillar
In related news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,236 shares of company stock worth $12,102,371 in the last three months. Insiders own 0.29% of the company’s stock.
Institutional Trading of Caterpillar
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new stake in Caterpillar during the third quarter valued at $36,000. Albion Financial Group UT increased its holdings in Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after buying an additional 77 shares in the last quarter. Kimelman & Baird LLC raised its position in shares of Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares during the period. Finally, Trivant Custom Portfolio Group LLC boosted its stake in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
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