Caterpillar Inc. (NYSE:CAT) Receives $219.29 Consensus PT from Analysts

Caterpillar Inc. (NYSE:CAT) has been assigned an average recommendation of “Hold” from the twenty-eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $219.29.

A number of research firms have commented on CAT. Wolfe Research began coverage on shares of Caterpillar in a research note on Monday, April 19th. They set an “outperform” rating and a $265.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Caterpillar from $205.00 to $245.00 in a research report on Tuesday, March 16th. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $205.00 to $237.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $264.00 price objective on shares of Caterpillar in a research report on Thursday, May 27th. Finally, UBS Group lifted their price objective on shares of Caterpillar from $230.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, May 12th.

NYSE CAT traded up $5.60 on Friday, reaching $219.39. 440,227 shares of the stock were exchanged, compared to its average volume of 3,357,434. Caterpillar has a one year low of $120.80 and a one year high of $246.69. The firm has a market cap of $120.18 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.89 and a beta of 0.93. The firm’s 50-day moving average price is $232.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.60 and a quick ratio of 1.15.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11 billion. During the same quarter last year, the business earned $1.60 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, research analysts predict that Caterpillar will post 9.72 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 20th. Investors of record on Tuesday, July 20th will be given a $1.11 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. This represents a $4.44 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Monday, July 19th. Caterpillar’s dividend payout ratio is 62.80%.

In other news, insider Joseph E. Creed sold 7,699 shares of the company’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $245.12, for a total value of $1,887,178.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Maclennan acquired 420 shares of the firm’s stock in a transaction that occurred on Wednesday, May 5th. The shares were bought at an average price of $237.86 per share, with a total value of $99,901.20. Following the acquisition, the director now directly owns 890 shares in the company, valued at $211,695.40. The disclosure for this purchase can be found here. 0.18% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Brand Asset Management Group Inc. bought a new position in Caterpillar in the first quarter worth approximately $26,000. Elmwood Wealth Management Inc. bought a new position in shares of Caterpillar during the 1st quarter worth $26,000. IronBridge Private Wealth LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at $30,000. HBC Financial Services PLLC purchased a new position in shares of Caterpillar during the fourth quarter valued at $31,000. Finally, Oder Investment Management LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 68.22% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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