Caterpillar, Inc. (NYSE:CAT) – Investment analysts at Seaport Global Securities raised their Q1 2018 earnings per share (EPS) estimates for shares of Caterpillar in a research report issued on Wednesday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will earn $1.58 per share for the quarter, up from their previous forecast of $1.51. Seaport Global Securities has a “Neutral” rating and a $120.00 price target on the stock. Seaport Global Securities also issued estimates for Caterpillar’s Q2 2018 earnings at $2.03 EPS.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year.
Several other research analysts also recently commented on the stock. BMO Capital Markets lifted their target price on shares of Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday. Argus lifted their target price on shares of Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup Inc. lifted their target price on shares of Caterpillar from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday. Credit Suisse Group lifted their target price on shares of Caterpillar from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Deutsche Bank AG set a $149.00 target price on shares of Caterpillar and gave the stock a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and an average price target of $133.70.
Shares of Caterpillar (NYSE CAT) opened at 137.81 on Friday. The firm has a market capitalization of $81.44 billion, a P/E ratio of 769.89 and a beta of 1.26. The company has a 50-day moving average price of $127.15 and a 200 day moving average price of $112.13. Caterpillar has a one year low of $80.33 and a one year high of $140.44.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a $0.78 dividend. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.26%. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.
In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now directly 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 owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Beach Investment Management LLC. acquired a new position in Caterpillar in the second quarter valued at about $231,000. NGAM Advisors L.P. boosted its position in Caterpillar by 2.9% in the second quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock valued at $8,742,000 after buying an additional 2,286 shares in the last quarter. Bank of Nova Scotia boosted its position in Caterpillar by 527.0% in the first quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after buying an additional 164,989 shares in the last quarter. Bancorpsouth Inc. boosted its position in Caterpillar by 1.2% in the first quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock valued at $537,000 after buying an additional 69 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Caterpillar in the first quarter valued at about $46,917,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.
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