Caterpillar (NYSE:CAT) Price Target Raised to $360.00 at HSBC

Caterpillar (NYSE:CAT) had its price target increased by HSBC from $330.00 to $360.00 in a report published on Tuesday, Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

CAT has been the topic of a number of other reports. Truist Financial initiated coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a buy rating and a $390.00 target price on the stock. Morgan Stanley began coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an equal weight rating and a $270.00 price objective on the stock. Citigroup increased their target price on shares of Caterpillar from $255.00 to $340.00 and gave the stock a neutral rating in a research note on Monday, February 12th. StockNews.com downgraded Caterpillar from a strong-buy rating to a buy rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird lifted their target price on Caterpillar from $210.00 to $257.00 and gave the company an underperform rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Caterpillar has an average rating of Hold and a consensus price target of $323.35.

Caterpillar Trading Up 0.4 %

Shares of Caterpillar stock opened at $336.86 on Tuesday. The company has a fifty day simple moving average of $351.89 and a 200-day simple moving average of $303.11. Caterpillar has a 12-month low of $205.60 and a 12-month high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The stock has a market cap of $164.74 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.42 and a beta of 1.19.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, equities analysts forecast that Caterpillar will post 21.67 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.54%. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

A number of institutional investors have recently made changes to their positions in the stock. Waterway Wealth Management LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $352,000. Farmers Trust Co. lifted its stake in shares of Caterpillar by 2.7% during the 4th quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock worth $1,328,000 after purchasing an additional 120 shares during the period. Firethorn Wealth Partners LLC lifted its position in Caterpillar by 19.4% during the fourth quarter. Firethorn Wealth Partners LLC now owns 1,825 shares of the industrial products company’s stock worth $540,000 after buying an additional 296 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Caterpillar by 16.7% in the third quarter. Panagora Asset Management Inc. now owns 367,655 shares of the industrial products company’s stock worth $100,370,000 after acquiring an additional 52,576 shares during the last quarter. Finally, Rise Advisors LLC boosted its holdings in shares of Caterpillar by 7.8% in the 4th quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 78 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

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.