Analysts Set Caterpillar Inc. (NYSE:CAT) Target Price at $137.24

Caterpillar Inc. (NYSE:CAT) has received an average recommendation of “Hold” from the twenty-four ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $137.24.

A number of research analysts recently issued reports on CAT shares. Sanford C. Bernstein downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating in a research report on Friday, June 12th. Goldman Sachs Group set a $144.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research report on Tuesday, April 28th. Zacks Investment Research downgraded shares of Caterpillar from a “hold” rating to a “strong sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, June 30th. Standpoint Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, Citigroup upped their price objective on shares of Caterpillar from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 18th.

Caterpillar stock opened at $132.88 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 1.71. Caterpillar has a 12-month low of $87.50 and a 12-month high of $150.55. The firm’s fifty day moving average is $129.98 and its 200 day moving average is $123.93. The company has a market capitalization of $71.92 billion, a PE ratio of 16.78, a PEG ratio of 2.13 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Friday, July 31st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.37. Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the previous year, the company earned $2.83 EPS. Caterpillar’s quarterly revenue was down 30.7% compared to the same quarter last year. Sell-side analysts expect that Caterpillar will post 5.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, July 20th will be paid a $1.03 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.12 annualized dividend and a dividend yield of 3.10%. Caterpillar’s payout ratio is 37.25%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Analysts LLC grew its position in Caterpillar by 108.2% during the first quarter. Capital Analysts LLC now owns 229 shares of the industrial products company’s stock valued at $27,000 after buying an additional 119 shares during the period. Private Ocean LLC grew its position in Caterpillar by 62.9% during the first quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock valued at $30,000 after buying an additional 100 shares during the period. Jaffetilchin Investment Partners LLC bought a new position in Caterpillar during the second quarter valued at about $30,000. Engrave Wealth Partners LLC bought a new position in Caterpillar during the fourth quarter valued at about $32,000. Finally, Central Bank & Trust Co. bought a new position in Caterpillar during the first quarter valued at about $33,000. Hedge funds and other institutional investors own 66.80% of the company’s stock.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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