Caterpillar (CAT) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Caterpillar (NYSE:CAT) from a neutral rating to an overweight rating in a report issued on Monday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $200.00 target price on the industrial products company’s stock, up from their prior target price of $161.96.

Several other equities analysts also recently weighed in on the company. UBS Group set a $180.00 target price on Caterpillar and gave the company a buy rating in a research report on Friday. They noted that the move was a valuation call. Vetr downgraded Caterpillar from a sell rating to a strong sell rating and set a $141.37 target price on the stock. in a research report on Thursday, January 4th. BMO Capital Markets reiterated a buy rating and set a $195.00 target price (up from $165.00) on shares of Caterpillar in a research report on Thursday, January 4th. ValuEngine upgraded Caterpillar from a hold rating to a buy rating in a research report on Sunday, December 31st. Finally, Citigroup lifted their target price on Caterpillar from $145.00 to $160.00 and gave the company a neutral rating in a research report on Thursday, December 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. Caterpillar currently has a consensus rating of Hold and an average target price of $145.87.

Caterpillar (NYSE:CAT) traded up $0.40 during mid-day trading on Monday, hitting $166.43. The stock had a trading volume of 4,522,593 shares, compared to its average volume of 4,752,700. The stock has a market cap of $99,010.00, a P/E ratio of 115.58, a P/E/G ratio of 2.01 and a beta of 1.29. Caterpillar has a 52-week low of $90.34 and a 52-week high of $167.41. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.68. The firm had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. sell-side analysts expect that Caterpillar will post 6.46 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 1.87%. Caterpillar’s payout ratio is 216.67%.

In other news, CFO Bradley M. Halverson sold 17,210 shares of Caterpillar stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now directly owns 11,096 shares in the company, valued at $1,526,587.68. The disclosure for this sale can be found here. Insiders sold 52,989 shares of company stock worth $7,235,850 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in shares of Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 128 shares during the last quarter. Baker Ellis Asset Management LLC bought a new stake in shares of Caterpillar in the second quarter worth about $104,000. Motco increased its stake in Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 718 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 900 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Caterpillar by 75.6% during the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 496 shares during the last quarter. 68.54% of the stock is currently owned by hedge funds and other institutional investors.

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