Caterpillar Inc. (CAT) Receives Consensus Rating of “Buy” from Brokerages
Caterpillar Inc. (NYSE:CAT) has received a consensus recommendation of “Buy” from the thirty research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, sixteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $169.04.
A number of research firms recently weighed in on CAT. UBS Group reaffirmed a “buy” rating and set a $185.00 target price (up previously from $178.00) on shares of Caterpillar in a report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and set a $174.00 target price (down previously from $176.00) on shares of Caterpillar in a report on Monday, May 14th. ValuEngine lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Buckingham Research began coverage on shares of Caterpillar in a report on Wednesday, April 11th. They set a “buy” rating and a $170.00 target price on the stock. Finally, Morgan Stanley set a $185.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 25th.
Caterpillar traded down $1.36, reaching $153.35, during midday trading on Thursday, MarketBeat reports. 252,338 shares of the stock were exchanged, compared to its average volume of 5,527,347. The company has a current ratio of 1.36, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $93.46 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.10 and a beta of 1.32. Caterpillar has a 52 week low of $102.30 and a 52 week high of $173.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, July 20th will be paid a $0.86 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $0.78. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.24%. Caterpillar’s dividend payout ratio is 45.35%.
In other news, CFO Joseph E. Creed sold 4,532 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $155.67, for a total value of $705,496.44. Following the completion of the sale, the chief financial officer now owns 2,554 shares of the company’s stock, valued at approximately $397,581.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas A. Pellette sold 54,481 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $150.17, for a total transaction of $8,181,411.77. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. LSV Asset Management purchased a new stake in Caterpillar during the 4th quarter valued at $693,000. Gradient Investments LLC purchased a new stake in Caterpillar during the 4th quarter valued at $113,000. Wealthstreet Investment Advisors LLC purchased a new stake in Caterpillar during the 4th quarter valued at $4,482,000. NuWave Investment Management LLC purchased a new stake in Caterpillar during the 4th quarter valued at $390,000. Finally, Evermay Wealth Management LLC purchased a new stake in Caterpillar during the 4th quarter valued at $448,000. 66.86% of the stock is owned by institutional investors.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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