Caterpillar (NYSE:CAT) Given New $156.00 Price Target at Goldman Sachs Group

Caterpillar (NYSE:CAT) had its price target boosted by Goldman Sachs Group from $130.00 to $156.00 in a research report sent to investors on Friday, The Fly reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other analysts have also commented on the stock. Bank of America boosted their price target on shares of Caterpillar from $154.00 to $165.00 and gave the company a buy rating in a research note on Wednesday. Cleveland Research restated a hold rating on shares of Caterpillar in a research note on Monday, September 30th. Deutsche Bank boosted their price target on shares of Caterpillar from $113.00 to $123.00 and gave the company a hold rating in a research note on Thursday, October 24th. Wells Fargo & Co lowered shares of Caterpillar from an outperform rating to a market perform rating and set a $143.00 price target for the company. in a research note on Wednesday, September 11th. Finally, Credit Suisse Group restated a buy rating and set a $150.00 price target on shares of Caterpillar in a research note on Thursday, October 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Caterpillar has an average rating of Hold and a consensus price target of $138.76.

Shares of Caterpillar stock traded up $1.15 during trading on Friday, reaching $148.16. 2,714,785 shares of the company traded hands, compared to its average volume of 4,321,513. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.44 and a quick ratio of 0.99. Caterpillar has a 1-year low of $111.75 and a 1-year high of $148.40. The company has a 50 day moving average price of $131.66 and a 200-day moving average price of $129.08. The firm has a market capitalization of $80.89 billion, a PE ratio of 13.20, a P/E/G ratio of 1.54 and a beta of 1.53.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.82 by ($0.16). Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The company had revenue of $12.76 billion for the quarter, compared to analyst estimates of $13.49 billion. During the same quarter in the previous year, the firm earned $2.86 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. Equities research analysts expect that Caterpillar will post 10.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.12 annualized dividend and a dividend yield of 2.78%. Caterpillar’s payout ratio is 36.72%.

In other news, insider Denise C. Johnson sold 4,172 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total value of $611,907.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise C. Johnson sold 14,777 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $140.00, for a total transaction of $2,068,780.00. Following the completion of the sale, the insider now owns 26,464 shares of the company’s stock, valued at approximately $3,704,960. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,141 shares of company stock valued at $13,717,142. Company insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CAT. Vanguard Group Inc. boosted its holdings in shares of Caterpillar by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 50,200,890 shares of the industrial products company’s stock worth $6,841,880,000 after buying an additional 411,655 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Caterpillar by 0.5% in the 2nd quarter. Primecap Management Co. CA now owns 9,398,329 shares of the industrial products company’s stock worth $1,280,898,000 after buying an additional 46,928 shares during the last quarter. Sanders Capital LLC boosted its holdings in shares of Caterpillar by 31.5% in the 2nd quarter. Sanders Capital LLC now owns 6,243,500 shares of the industrial products company’s stock worth $958,477,000 after buying an additional 1,496,100 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Caterpillar by 8,442.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,376,797 shares of the industrial products company’s stock worth $679,143,000 after buying an additional 5,313,853 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Caterpillar by 1,092.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,518,229 shares of the industrial products company’s stock worth $615,789,000 after buying an additional 4,139,332 shares during the last quarter. Hedge funds and other institutional investors own 65.74% of the company’s stock.

About Caterpillar

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.

Featured Story: How does a 12b-1 fee affect fund performance?

The Fly

Analyst Recommendations for Caterpillar (NYSE:CAT)

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.