Posted by admin on Aug 10th, 2022

Caterpillar (NYSE:CAT – Get Rating) had its price target increased by Citigroup to $195.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports.

Several other research firms have also recently weighed in on CAT. Cowen cut their price target on shares of Caterpillar from $255.00 to $225.00 and set an outperform rating on the stock in a report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Caterpillar from $240.00 to $227.00 and set a buy rating on the stock in a report on Wednesday, July 13th. Morgan Stanley cut their price target on shares of Caterpillar from $161.00 to $142.00 and set an underweight rating on the stock in a report on Monday, July 18th. Robert W. Baird reiterated an outperform rating and issued a $280.00 price target on shares of Caterpillar in a report on Thursday, May 19th. Finally, Tigress Financial boosted their target price on shares of Caterpillar from $278.00 to $282.00 and gave the company a buy rating in a report on Friday, May 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $223.38.

Shares of NYSE CAT opened at $186.03 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.45 and a debt-to-equity ratio of 1.66. Caterpillar has a 52 week low of $167.08 and a 52 week high of $237.90. The firm’s fifty day moving average is $190.46 and its 200 day moving average is $203.38. The company has a market cap of $98.21 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.22 and a beta of 1.01.

Caterpillar (NYSE:CAT – Get Rating) last issued its earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.01 by $0.17. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.39 billion. Caterpillar had a net margin of 12.50% and a return on equity of 37.29%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 earnings per share. On average, equities research analysts expect that Caterpillar will post 12.7 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be paid a $1.20 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $4.80 dividend on an annualized basis and a yield of 2.58%. Caterpillar’s payout ratio is presently 38.40%.

In related news, insider Joseph E. Creed sold 2,757 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $214.13, for a total value of $590,356.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp raised its position in Caterpillar by 11.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 324,750 shares of the industrial products company’s stock worth $58,052,000 after buying an additional 34,221 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in Caterpillar by 4.8% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 8,605 shares of the industrial products company’s stock worth $1,538,000 after buying an additional 395 shares during the last quarter. Lazard Asset Management LLC raised its position in Caterpillar by 3.6% in the 2nd quarter. Lazard Asset Management LLC now owns 1,145,249 shares of the industrial products company’s stock worth $204,724,000 after buying an additional 40,186 shares during the last quarter. Wealthspire Advisors LLC raised its position in Caterpillar by 6.7% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,012 shares of the industrial products company’s stock worth $360,000 after buying an additional 127 shares during the last quarter. Finally, Leelyn Smith LLC raised its position in Caterpillar by 51.0% in the 2nd quarter. Leelyn Smith LLC now owns 216 shares of the industrial products company’s stock worth $39,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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