Caterpillar Inc. (NYSE:CAT) Receives $610.32 Average Price Target from Analysts

Caterpillar Inc. (NYSE:CAT) has earned an average rating of “Moderate Buy” from the twenty-five research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $610.3158.

A number of brokerages recently weighed in on CAT. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. Oppenheimer lifted their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. DA Davidson upped their price target on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, November 5th. Finally, Morgan Stanley upped their target price on shares of Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the transaction, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This represents a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the transaction, the insider owned 41,512 shares of the company’s stock, valued at $23,669,312.16. The trade was a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 79,061 shares of company stock worth $41,949,366. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Marquette Asset Management LLC increased its position in shares of Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after buying an additional 53 shares in the last quarter. Joseph Group Capital Management acquired a new position in Caterpillar in the third quarter valued at about $32,000. Kilter Group LLC bought a new stake in shares of Caterpillar in the second quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar during the second quarter worth about $28,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Caterpillar during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $582.68 on Friday. The stock has a 50-day simple moving average of $534.56 and a 200 day simple moving average of $447.95. The stock has a market capitalization of $272.68 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 2.68 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar has a 12-month low of $267.30 and a 12-month high of $596.21.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.17 EPS. On average, research analysts anticipate that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were paid a $1.51 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

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.