TD Cowen Increases Caterpillar (NYSE:CAT) Price Target to $340.00

Caterpillar (NYSE:CAT) had its price target upped by TD Cowen from $338.00 to $340.00 in a report issued on Friday, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also weighed in on CAT. Citigroup increased their price objective on shares of Caterpillar from $255.00 to $340.00 and gave the stock a neutral rating in a report on Monday, February 12th. StockNews.com lowered shares of Caterpillar from a strong-buy rating to a buy rating in a report on Tuesday, February 20th. The Goldman Sachs Group increased their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. Finally, Robert W. Baird increased their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the stock an underperform rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $316.88.

Caterpillar Price Performance

Caterpillar stock opened at $349.76 on Friday. Caterpillar has a 12-month low of $205.60 and a 12-month high of $382.01. The stock has a market capitalization of $174.67 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.52 and a beta of 1.17. The firm’s 50-day moving average is $350.66 and its two-hundred day moving average is $301.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Equities analysts predict that Caterpillar will post 21.44 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.49%. Caterpillar’s dividend payout ratio is currently 23.48%.

Insider Activity

In other news, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan purchased 350 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $323.37 per share, with a total value of $113,179.50. Following the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold 35,769 shares of company stock worth $11,508,906 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Hedge funds have recently added to or reduced their stakes in the business. Partnership Wealth Management LLC acquired a new position in Caterpillar in the fourth quarter worth $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar during the fourth quarter valued at $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar during the first quarter valued at $27,000. Gilfoyle & Co LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at $30,000. Finally, Vima LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.