Stifel Nicolaus restated their hold rating on shares of Caterpillar (NYSE:CAT) in a research report sent to investors on Monday, Marketbeat Ratings reports. Stifel Nicolaus currently has a $174.00 target price on the industrial products company’s stock, down from their prior target price of $176.00.
A number of other analysts have also recently weighed in on the stock. Bank of America cut shares of Caterpillar from a buy rating to a neutral rating and set a $156.00 target price for the company. in a report on Thursday, May 3rd. They noted that the move was a valuation call. TheStreet upgraded shares of Caterpillar from a c+ rating to an a- rating in a report on Tuesday, April 24th. Morgan Stanley set a $185.00 target price on shares of Caterpillar and gave the stock a buy rating in a report on Wednesday, April 25th. Daiwa Capital Markets cut shares of Caterpillar from an outperform rating to a neutral rating and set a $160.00 target price for the company. in a report on Wednesday, April 25th. Finally, Credit Suisse Group restated an outperform rating on shares of Caterpillar in a report on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $172.55.
Shares of NYSE:CAT opened at $153.69 on Monday. The company has a market cap of $91.96 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.08 and a beta of 1.31. Caterpillar has a 1-year low of $152.50 and a 1-year high of $153.85. The company has a quick ratio of 0.96, a current ratio of 1.36 and a debt-to-equity ratio of 1.52.
The business also recently announced a quarterly dividend, which will be paid on Saturday, May 19th. Shareholders of record on Monday, April 23rd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.03%. Caterpillar’s payout ratio is 45.35%.
In related news, Director David L. Calhoun bought 5,000 shares of the business’s stock in a transaction on Monday, May 14th. The stock was bought at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the transaction, the director now directly owns 19,579 shares in the company, valued at $3,041,989.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joseph E. Creed sold 4,532 shares of the stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $155.67, for a total transaction of $705,496.44. Following the completion of the sale, the chief financial officer now owns 2,554 shares of the company’s stock, valued at approximately $397,581.18. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank lifted its position in Caterpillar by 0.4% in the 4th quarter. Swiss National Bank now owns 2,179,616 shares of the industrial products company’s stock worth $343,464,000 after buying an additional 7,900 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Caterpillar by 7.6% during the 4th quarter. Schroder Investment Management Group now owns 770,480 shares of the industrial products company’s stock worth $121,411,000 after purchasing an additional 54,661 shares during the last quarter. KHP Capital LLC acquired a new position in shares of Caterpillar during the 4th quarter worth $867,000. Fiduciary Financial Services of The Southwest Inc. TX acquired a new position in shares of Caterpillar during the 4th quarter worth $507,000. Finally, Hyman Charles D increased its stake in shares of Caterpillar by 0.4% during the 4th quarter. Hyman Charles D now owns 145,523 shares of the industrial products company’s stock worth $22,932,000 after purchasing an additional 590 shares during the last quarter. Institutional investors own 69.57% 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 for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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