Deutsche Bank AG reissued their hold rating on shares of Caterpillar, Inc. (NYSE:CAT) in a research note issued to investors on Monday. The brokerage currently has a $121.00 price target on the industrial products company’s stock, up from their prior price target of $120.00.
CAT has been the topic of several other research reports. BMO Capital Markets reissued a buy rating and set a $130.00 price objective on shares of Caterpillar in a report on Friday, September 8th. Vetr lowered Caterpillar from a buy rating to a hold rating and set a $122.53 price objective on the stock. in a report on Monday, September 11th. Jefferies Group LLC reissued a hold rating and set a $100.00 price objective on shares of Caterpillar in a report on Tuesday, August 29th. Credit Suisse Group reissued a hold rating and set a $133.00 price objective on shares of Caterpillar in a report on Friday, September 22nd. Finally, Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the stock a buy rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $116.98.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.40%. Caterpillar’s payout ratio is presently 2,080.00%.
In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock worth $22,979,332 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CAT. Quadrant Capital Group LLC raised 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 during the period. Baker Ellis Asset Management LLC acquired a new position in shares of Caterpillar in the second quarter valued at approximately $104,000. Motco grew its position in shares of 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 purchasing an additional 718 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Caterpillar in the first quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC grew its position in shares of Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 69.24% of the company’s stock.
Caterpillar Company Profile
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