Caterpillar Inc. (NYSE:CAT) Receives $365.33 Average Target Price from Analysts

Shares of Caterpillar Inc. (NYSE:CAT) have been given an average recommendation of “Hold” by the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $365.33.

Several research firms recently weighed in on CAT. Truist Financial raised their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America boosted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st.

Caterpillar Trading Up 2.0 %

NYSE CAT opened at $397.48 on Wednesday. Caterpillar has a 52-week low of $246.01 and a 52-week high of $418.50. The firm has a 50-day moving average price of $385.77 and a 200 day moving average price of $355.46. The stock has a market capitalization of $191.90 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.89 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.52 EPS. Equities research analysts expect that Caterpillar will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 20,774 shares of company stock worth $8,233,034 in the last three months. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently bought and sold shares of CAT. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the second quarter worth about $28,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar in the second quarter worth about $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar during the 3rd quarter valued at about $36,000. Finally, POM Investment Strategies LLC lifted its position in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.