Credit Suisse Group Reaffirms “Outperform” Rating for Caterpillar, Inc. (CAT)
Credit Suisse Group reaffirmed their outperform rating on shares of Caterpillar, Inc. (NYSE:CAT) in a report published on Wednesday, The Fly reports. Credit Suisse Group currently has a $133.00 price target on the industrial products company’s stock, up from their previous price target of $123.00.
CAT has been the topic of a number of other research reports. Vetr cut Caterpillar from a sell rating to a strong sell rating and set a $86.90 price objective on the stock. in a report on Tuesday, April 25th. Robert W. Baird set a $102.00 price objective on Caterpillar and gave the stock a hold rating in a report on Wednesday, April 12th. Goldman Sachs Group, Inc. (The) raised Caterpillar from a buy rating to a conviction-buy rating and set a $120.00 price objective on the stock in a report on Tuesday, April 4th. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the stock a buy rating in a report on Tuesday, June 20th. Finally, BMO Capital Markets reissued a hold rating and set a $110.00 price objective on shares of Caterpillar in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Caterpillar currently has a consensus rating of Hold and a consensus target price of $105.78.
Caterpillar (NYSE:CAT) opened at 114.10 on Wednesday. The company has a market cap of $67.34 billion, a PE ratio of 637.43 and a beta of 1.24. The company has a 50 day moving average price of $107.50 and a 200-day moving average price of $99.82. Caterpillar has a 12 month low of $79.93 and a 12 month high of $114.90.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. Equities analysts predict that Caterpillar will post $4.90 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, July 18th. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 2.73%. Caterpillar’s dividend payout ratio is currently 2,080.00%.
A number of large investors have recently modified their holdings of CAT. Howe & Rusling Inc. boosted its stake in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares in the last quarter. Reilly Financial Advisors LLC boosted its stake in shares of Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after buying an additional 535 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Caterpillar during the first quarter valued at $107,000. First Personal Financial Services boosted its stake in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new stake in shares of Caterpillar during the first quarter valued at $111,000. Institutional investors own 70.69% of the company’s stock.
Caterpillar Company Profile
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