Wells Fargo & Company reissued their outperform rating on shares of Caterpillar, Inc. (NYSE:CAT) in a report released on Wednesday, The Fly reports.

Other research analysts also recently issued research reports about the stock. UBS AG reiterated a neutral rating and set a $102.00 price target (up previously from $98.00) on shares of Caterpillar in a research report on Friday, April 28th. Vetr downgraded shares of Caterpillar from a hold rating to a sell rating and set a $89.96 price target on the stock. in a research report on Tuesday, March 28th. Axiom Securities reiterated a sell rating on shares of Caterpillar in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) upgraded shares of Caterpillar from a buy rating to a conviction-buy rating and set a $120.00 price target on the stock in a research report on Tuesday, April 4th. Finally, Royal Bank Of Canada reiterated a hold rating and set a $101.00 price target on shares of Caterpillar in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $105.78.

Shares of Caterpillar (NYSE:CAT) opened at 114.10 on Wednesday. The company has a market capitalization of $67.34 billion, a P/E ratio of 637.43 and a beta of 1.24. The company has a 50-day moving average of $107.50 and a 200 day moving average 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 earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $10.96 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts forecast that Caterpillar will post $4.90 EPS for the current year.

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

A number of hedge funds have recently bought and sold shares of CAT. Wealthfront Inc. boosted its stake in Caterpillar by 14.9% in the fourth quarter. Wealthfront Inc. now owns 15,340 shares of the industrial products company’s stock worth $1,423,000 after buying an additional 1,991 shares during the last quarter. RMB Capital Management LLC boosted its stake in Caterpillar by 407.6% in the fourth quarter. RMB Capital Management LLC now owns 12,945 shares of the industrial products company’s stock worth $1,201,000 after buying an additional 10,395 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Caterpillar by 0.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,218,953 shares of the industrial products company’s stock worth $205,785,000 after buying an additional 14,913 shares during the last quarter. Whalerock Point Partners LLC boosted its stake in Caterpillar by 10.6% in the fourth quarter. Whalerock Point Partners LLC now owns 17,190 shares of the industrial products company’s stock worth $1,595,000 after buying an additional 1,650 shares during the last quarter. Finally, High Point Bank & Trust Co. boosted its stake in Caterpillar by 3.9% in the fourth quarter. High Point Bank & Trust Co. now owns 4,119 shares of the industrial products company’s stock worth $382,000 after buying an additional 155 shares during the last quarter. 70.69% of the stock is owned by institutional investors and hedge funds.

About Caterpillar

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