Caterpillar Inc. (NYSE:CAT) Stock Has Consensus Price Target of $967.83

Caterpillar Inc. (NYSE:CAT) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the company, MarketBeat.com reports. Twelve analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $967.83.

Several equities analysts have issued reports on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $749.00 price objective on shares of Caterpillar in a research note on Wednesday, October 14th. Oppenheimer reduced their target price on shares of Caterpillar from $1,118.00 to $1,009.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Truist Financial lowered their target price on shares of Caterpillar from $1,225.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Erste Group Bank lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Barclays increased their price target on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th.

Insiders Place Their Bets

In related news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caterpillar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lam Group Inc. purchased a new position in shares of Caterpillar in the first quarter valued at $26,000. Decker Retirement Planning Inc. grew its stake in Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 22 shares during the last quarter. PFS Partners LLC grew its stake in Caterpillar by 1,750.0% in the 3rd quarter. PFS Partners LLC now owns 37 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 35 shares during the last quarter. Matrix Trust Co increased its holdings in Caterpillar by 93.8% during the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC increased its holdings in Caterpillar by 82.1% during the 1st quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.1%

NYSE:CAT opened at $686.52 on Wednesday. The firm has a market cap of $315.57 billion, a P/E ratio of 29.54, a PEG ratio of 1.18 and a beta of 1.58. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The stock’s 50 day simple moving average is $798.82 and its 200-day simple moving average is $856.60. Caterpillar has a 12-month low of $521.02 and a 12-month high of $1,073.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The business had revenue of $20.54 billion during the quarter, compared to analysts’ expectations of $19.34 billion. During the same quarter in the prior year, the business earned $4.72 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities analysts anticipate that Caterpillar will post 27.74 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be paid a $1.63 dividend. The ex-dividend date is Monday, October 26th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.9%. Caterpillar’s payout ratio is 28.06%.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Analysts expect Caterpillar to deliver year-over-year earnings growth in its upcoming third-quarter report. The company’s positive Earnings ESP and favorable estimate revisions suggest potential for an earnings beat, supported by manufacturing strength and demand for industrial equipment. Caterpillar Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Technical and fundamental indicators are encouraging some investors to view the recent decline as a buying opportunity. A hammer chart pattern points to possible support, while upward earnings-estimate revisions could help drive a near-term recovery. Bears Are Losing Control Over Caterpillar
• Positive Sentiment: Zacks lists Caterpillar among industrial companies with the potential to outperform third-quarter earnings expectations, reflecting continued confidence in the sector’s demand environment. Industrial Stocks Set to Outshine Q3 Earnings Estimates
• Neutral Sentiment: The key catalyst is Caterpillar’s forthcoming quarterly report. Investors will focus on whether earnings growth, revenue momentum and management’s outlook validate the optimistic estimates. The company’s previous quarter featured a substantial earnings and revenue beat, providing a supportive comparison.
• Negative Sentiment: The recent selloff has materially weakened CAT’s momentum and caused it to underperform the S&P 500, with much of the decline concentrated in only a few trading sessions. Continued investor caution, profit-taking or disappointment in the upcoming report could keep pressure on the shares. Caterpillar Just Dropped 10% in a Month

About Caterpillar

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.