Caterpillar, Inc. (NYSE:CAT) Lowered to “Hold” at BidaskClub

BidaskClub lowered shares of Caterpillar, Inc. (NYSE:CAT) from a buy rating to a hold rating in a research note published on Monday, July 24th.

Other research analysts have also issued reports about the company. UBS AG reaffirmed a neutral rating and set a $102.00 target price (up from $98.00) on shares of Caterpillar in a research report on Friday, April 28th. Vetr lowered Caterpillar from a hold rating to a sell rating and set a $89.96 target price for the company. in a research report on Tuesday, March 28th. Axiom Securities reaffirmed a sell rating on shares of Caterpillar in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) raised Caterpillar from a buy rating to a conviction-buy rating and set a $120.00 price objective for the company in a research report on Tuesday, April 4th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $101.00 price objective on shares of Caterpillar in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $107.15.

Caterpillar (NYSE:CAT) opened at 113.92 on Monday. The company’s 50-day moving average price is $111.03 and its 200 day moving average price is $101.77. The company has a market capitalization of $67.32 billion, a PE ratio of 636.42 and a beta of 1.25. Caterpillar has a 52 week low of $79.93 and a 52 week high of $115.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $1.09 EPS. Caterpillar’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar will post $5.24 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be issued a dividend of $0.78 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Tuesday, July 18th. Caterpillar’s dividend payout ratio is currently 2,080.00%.

In related news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in CAT. Chevy Chase Trust Holdings Inc. increased its position in shares of Caterpillar by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 512,722 shares of the industrial products company’s stock worth $47,559,000 after buying an additional 16,667 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its position in shares of Caterpillar by 10,770.1% in the first quarter. Atalanta Sosnoff Capital LLC now owns 418,280 shares of the industrial products company’s stock worth $38,799,000 after buying an additional 414,432 shares in the last quarter. Integrated Investment Consultants LLC increased its position in shares of Caterpillar by 17.1% in the first quarter. Integrated Investment Consultants LLC now owns 1,710 shares of the industrial products company’s stock worth $159,000 after buying an additional 250 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $1,530,000. Finally, Searle & CO. acquired a new position in shares of Caterpillar during the fourth quarter worth $1,080,000. 70.27% of the stock is owned by institutional investors.

Caterpillar Company Profile

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