Caterpillar (NYSE:CAT) Given New $850.00 Price Target at HSBC

Caterpillar (NYSE:CAT) had its target price hoisted by HSBC from $660.00 to $850.00 in a research note published on Thursday morning,MarketScreener reports. The firm currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. CICC Research initiated coverage on shares of Caterpillar in a research report on Friday. They set an “outperform” rating on the stock. Robert W. Baird set a $805.00 target price on Caterpillar in a research note on Friday, January 30th. Jefferies Financial Group increased their price target on Caterpillar from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. DA Davidson boosted their price objective on Caterpillar from $569.00 to $650.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Wolfe Research boosted their price target on shares of Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $690.90.

Caterpillar Stock Up 4.1%

Shares of CAT traded up $28.06 on Thursday, reaching $706.37. The company’s stock had a trading volume of 302,619 shares, compared to its average volume of 2,737,583. Caterpillar has a twelve month low of $267.30 and a twelve month high of $723.16. The stock has a market capitalization of $330.57 billion, a PE ratio of 37.35, a PEG ratio of 1.64 and a beta of 1.58. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. The firm has a fifty day moving average of $614.16 and a 200-day moving average of $526.79.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. The company had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned $5.14 earnings per share. Equities analysts predict that Caterpillar will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, January 20th will be given a dividend of $1.51 per share. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.9%. Caterpillar’s dividend payout ratio is currently 32.09%.

Insider Buying and Selling at Caterpillar

In related news, insider Jason Kaiser sold 10,707 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the completion of the transaction, the insider owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. The trade was a 55.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 10,671 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $680.45, for a total transaction of $7,261,081.95. Following the completion of the sale, the insider owned 41,151 shares in the company, valued at $28,001,197.95. This represents a 20.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,747 shares of company stock worth $78,324,008 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Torren Management LLC bought a new position in shares of Caterpillar in the 4th quarter worth $27,000. IFS Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $31,000. Rialto Wealth Management LLC increased its position in shares of Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 18 shares during the last quarter. Marquette Asset Management LLC lifted its position in Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after buying an additional 53 shares during the last quarter. Finally, Noble Wealth Management PBC boosted its stake in Caterpillar by 140.0% in the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock worth $34,000 after buying an additional 35 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.