Caterpillar (NYSE:CAT) had its price objective trimmed by Credit Suisse Group from $165.00 to $149.00 in a report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the industrial products company’s stock.
A number of other equities research analysts also recently commented on CAT. Robert W. Baird dropped their price objective on Caterpillar from $161.00 to $155.00 and set an outperform rating for the company in a report on Thursday, July 25th. Goldman Sachs Group downgraded Caterpillar from a buy rating to a neutral rating and dropped their price objective for the company from $156.00 to $130.00 in a report on Wednesday, August 7th. UBS Group dropped their price objective on Caterpillar from $122.00 to $117.00 and set a sell rating for the company in a report on Tuesday, October 8th. Bank of America reiterated a buy rating and issued a $145.00 price objective (down previously from $150.00) on shares of Caterpillar in a report on Monday, September 9th. Finally, Royal Bank of Canada reiterated a hold rating on shares of Caterpillar in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $137.66.
Shares of CAT opened at $128.38 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 1.66. Caterpillar has a 12-month low of $111.75 and a 12-month high of $144.77. The firm has a market capitalization of $71.96 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. The stock’s fifty day simple moving average is $124.18 and its 200-day simple moving average is $129.16.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.12 by ($0.29). Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The firm had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period last year, the company earned $2.97 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that Caterpillar will post 11.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.12 annualized dividend and a dividend yield of 3.21%. Caterpillar’s dividend payout ratio (DPR) is currently 36.72%.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now directly owns 12,569 shares in the company, valued at $1,587,967.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in CAT. Lockheed Martin Investment Management Co. bought a new stake in shares of Caterpillar in the first quarter worth about $5,690,000. R. G. Niederhoffer Capital Management Inc. bought a new stake in shares of Caterpillar in the first quarter worth about $1,328,000. Empirical Finance LLC increased its holdings in shares of Caterpillar by 2.9% in the first quarter. Empirical Finance LLC now owns 11,768 shares of the industrial products company’s stock worth $1,594,000 after acquiring an additional 332 shares in the last quarter. Planning Solutions Group LLC increased its holdings in shares of Caterpillar by 44.9% in the first quarter. Planning Solutions Group LLC now owns 2,975 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 922 shares in the last quarter. Finally, Corient Capital Partners LLC increased its holdings in shares of Caterpillar by 398.6% in the first quarter. Corient Capital Partners LLC now owns 17,076 shares of the industrial products company’s stock worth $2,314,000 after acquiring an additional 13,651 shares in the last quarter. Institutional investors own 64.96% of the company’s stock.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
Further Reading: What is the formula for the cash asset ratio?
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.