Brokerages Set Caterpillar Inc. (NYSE:CAT) Target Price at $355.50

Shares of Caterpillar Inc. (NYSE:CAT) have earned an average recommendation of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $355.50.

Several brokerages have weighed in on CAT. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial increased their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th.

Insider Buying and Selling

In related news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caterpillar

Large investors have recently bought and sold shares of the company. Fairman Group LLC acquired a new stake in Caterpillar during the 1st quarter valued at approximately $29,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the second quarter valued at $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar in the second quarter valued at $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar during the 2nd quarter worth about $36,000. Finally, POM Investment Strategies LLC lifted its holdings in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 2.1 %

Shares of CAT opened at $379.24 on Friday. The firm has a market capitalization of $185.47 billion, a P/E ratio of 17.12, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar has a 12-month low of $223.76 and a 12-month high of $403.60. The firm has a fifty day moving average price of $371.10 and a 200-day moving average price of $351.14. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.55 EPS. Equities research analysts expect that Caterpillar will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.49%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.