BidaskClub Upgrades Caterpillar, Inc. (CAT) to “Hold”
BidaskClub upgraded shares of Caterpillar, Inc. (NYSE:CAT) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
Other equities research analysts have also recently issued research reports about the stock. UBS AG restated a neutral rating and issued a $102.00 price target (up previously from $98.00) on shares of Caterpillar in a research report on Friday, April 28th. Wells Fargo & Company restated an outperform rating on shares of Caterpillar in a research report on Wednesday, July 26th. Vetr upgraded shares of Caterpillar from a strong sell rating to a buy rating and set a $120.03 price target on the stock in a research report on Thursday, August 10th. Axiom Securities restated a sell rating on shares of Caterpillar in a research report on Tuesday, June 6th. Finally, Citigroup Inc. boosted their price target on shares of Caterpillar from $115.00 to $125.00 and gave the stock a neutral rating in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Caterpillar currently has a consensus rating of Hold and an average target price of $107.15.
Shares of Caterpillar (NYSE CAT) opened at 115.07 on Friday. The firm has a 50-day moving average of $112.00 and a 200-day moving average of $102.51. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 642.85 and a beta of 1.25. Caterpillar has a 12 month low of $79.93 and a 12 month high of $116.64.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. Caterpillar’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts anticipate that Caterpillar will post $5.24 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Saturday, August 19th. Investors of record on Thursday, July 20th were paid a $0.78 dividend. The ex-dividend date was Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a yield of 2.71%. Caterpillar’s dividend payout ratio is 2,080.00%.
In related news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CAT. Bancorpsouth Inc. increased its position in shares of Caterpillar by 1.2% in the first quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock worth $537,000 after buying an additional 69 shares in the last quarter. State of Tennessee Treasury Department increased its position in shares of Caterpillar by 58.4% in the first quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock worth $26,746,000 after buying an additional 106,270 shares in the last quarter. Stevens Capital Management LP increased its position in shares of Caterpillar by 211.0% in the first quarter. Stevens Capital Management LP now owns 153,894 shares of the industrial products company’s stock worth $14,275,000 after buying an additional 104,412 shares in the last quarter. World Asset Management Inc increased its position in shares of Caterpillar by 9.5% in the first quarter. World Asset Management Inc now owns 63,392 shares of the industrial products company’s stock worth $5,880,000 after buying an additional 5,512 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its position in shares of Caterpillar by 18.1% in the first quarter. Olstein Capital Management L.P. now owns 55,500 shares of the industrial products company’s stock worth $5,148,000 after buying an additional 8,500 shares in the last quarter. 69.22% of the stock is owned by institutional investors.
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