Jefferies Group LLC reissued their hold rating on shares of Caterpillar, Inc. (NYSE:CAT) in a report published on Wednesday. The firm currently has a $120.00 target price on the industrial products company’s stock, up from their prior target price of $100.00. Jefferies Group also issued estimates for Caterpillar’s Q3 2017 earnings at $1.13 EPS, Q4 2017 earnings at $1.25 EPS, FY2017 earnings at $5.15 EPS, FY2018 earnings at $6.15 EPS and FY2019 earnings at $7.00 EPS.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Caterpillar from a hold rating to a buy rating and set a $107.00 price objective for the company in a research note on Monday, April 10th. Deutsche Bank AG reduced their price objective on shares of Caterpillar from $108.00 to $105.00 and set a buy rating for the company in a research note on Thursday, April 6th. Raymond James Financial, Inc. raised shares of Caterpillar to a buy rating and set a $55.00 price objective for the company in a research note on Thursday, April 27th. Vetr raised shares of Caterpillar from a sell rating to a buy rating and set a $107.75 price objective for the company in a research note on Monday, May 8th. Finally, Bank of America Corporation raised shares of Caterpillar from a neutral rating to a buy rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Caterpillar currently has an average rating of Hold and a consensus price target of $105.78.

Shares of Caterpillar (CAT) traded down 0.24% during mid-day trading on Wednesday, reaching $114.10. The company had a trading volume of 4,704,478 shares. The company’s 50-day moving average is $107.50 and its 200 day moving average is $99.82. Caterpillar has a 52-week low of $79.93 and a 52-week high of $114.90. The stock has a market capitalization of $67.34 billion, a P/E ratio of 637.43 and a beta of 1.24.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Caterpillar’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts anticipate that Caterpillar will post $4.90 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/caterpillar-inc-cat-stock-rating-reaffirmed-by-jefferies-group-llc/1462655.html.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is presently 2,080.00%.

Hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA boosted its stake in Caterpillar by 23.0% in the first quarter. Private Trust Co. NA now owns 7,548 shares of the industrial products company’s stock worth $700,000 after buying an additional 1,413 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in 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 during the last quarter. Stevens Capital Management LP boosted its stake in 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 during the last quarter. World Asset Management Inc boosted its stake in 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 during the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its stake in Caterpillar by 3.1% in the first quarter. Ipswich Investment Management Co. Inc. now owns 50,212 shares of the industrial products company’s stock worth $4,658,000 after buying an additional 1,490 shares during the last quarter. 70.69% of the stock is currently owned by institutional investors and hedge funds.

About Caterpillar

Analyst Recommendations for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.