Credit Suisse Group Increases Caterpillar, Inc. (CAT) Price Target to $155.00

Caterpillar, Inc. (NYSE:CAT) had its price target lifted by Credit Suisse Group from $146.00 to $155.00 in a research report released on Wednesday. The brokerage currently has an outperform rating on the industrial products company’s stock.

CAT has been the topic of a number of other research reports. BMO Capital Markets reiterated a buy rating and set a $130.00 target price on shares of Caterpillar in a research report on Friday, September 8th. Vetr downgraded shares of Caterpillar from a buy rating to a hold rating and set a $122.53 target price on the stock. in a research report on Monday, September 11th. Jefferies Group LLC reiterated a hold rating and set a $100.00 target price on shares of Caterpillar in a research report on Tuesday, August 29th. Goldman Sachs Group, Inc. (The) boosted their target price on shares of Caterpillar from $143.00 to $158.00 and gave the company a buy rating in a research report on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of Caterpillar from a hold rating to a buy rating and set a $142.00 target price on the stock in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $133.70.

Shares of Caterpillar (CAT) traded up 0.64% during midday trading on Wednesday, hitting $137.81. 4,064,593 shares of the stock traded hands. Caterpillar has a 52 week low of $80.33 and a 52 week high of $140.44. The stock has a market capitalization of $81.44 billion, a P/E ratio of 769.89 and a beta of 1.26. The firm has a 50-day moving average price of $127.15 and a 200-day moving average price of $112.13.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The company had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the company earned $0.85 EPS. Caterpillar’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities analysts predict that Caterpillar will post $6.38 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.26%. Caterpillar’s payout ratio is currently 216.67%.

In related news, insider Suzette M. Long sold 13,859 shares of the stock in a transaction dated Friday, August 4th. The shares were 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 owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. S. R. Schill & Associates grew its position in Caterpillar by 0.3% during the first quarter. S. R. Schill & Associates now owns 2,204 shares of the industrial products company’s stock valued at $204,000 after buying an additional 6 shares during the period. Northstar Group Inc. grew its position in Caterpillar by 0.3% during the second quarter. Northstar Group Inc. now owns 2,385 shares of the industrial products company’s stock valued at $256,000 after buying an additional 8 shares during the period. Clearbridge Investments LLC grew its position in Caterpillar by 0.3% during the first quarter. Clearbridge Investments LLC now owns 3,635 shares of the industrial products company’s stock valued at $337,000 after buying an additional 10 shares during the period. Toth Financial Advisory Corp grew its position in Caterpillar by 0.3% during the second quarter. Toth Financial Advisory Corp now owns 3,915 shares of the industrial products company’s stock valued at $421,000 after buying an additional 10 shares during the period. Finally, Ironwood Investment Counsel LLC grew its position in Caterpillar by 0.3% during the second quarter. Ironwood Investment Counsel LLC now owns 3,425 shares of the industrial products company’s stock valued at $368,000 after buying an additional 10 shares during the period. Institutional investors own 69.27% of the company’s stock.

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