Caterpillar (NYSE:CAT – Get Rating) had its target price increased by Credit Suisse Group from $226.00 to $236.00 in a research note published on Wednesday, Benzinga reports. Credit Suisse Group currently has an outperform rating on the industrial products company’s stock.
A number of other equities research analysts have also recently issued reports on the company. UBS Group cut their target price on Caterpillar from $250.00 to $225.00 and set a buy rating on the stock in a research note on Wednesday. Cowen cut their target price on Caterpillar from $255.00 to $225.00 and set an outperform rating on the stock in a research note on Thursday, July 7th. StockNews.com upgraded Caterpillar from a hold rating to a buy rating in a research note on Wednesday, July 20th. Sanford C. Bernstein lowered Caterpillar from an outperform rating to a market perform rating and set a $195.00 price target on the stock. in a report on Wednesday. Finally, Cowen lowered their price target on Caterpillar from $255.00 to $225.00 and set an outperform rating on the stock in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar presently has an average rating of Moderate Buy and an average price target of $225.27.
Caterpillar Stock Performance
Shares of CAT opened at $185.39 on Wednesday. The business’s fifty day moving average price is $191.68 and its 200 day moving average price is $203.92. Caterpillar has a 12-month low of $167.08 and a 12-month high of $237.90. The stock has a market capitalization of $98.88 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.45 and a quick ratio of 0.93.
Caterpillar Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be given a $1.20 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. The ex-dividend date is Tuesday, July 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.59%. Caterpillar’s dividend payout ratio (DPR) is 38.40%.
Insider Activity at Caterpillar
In related news, insider Joseph E. Creed sold 2,757 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total value of $590,356.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Caterpillar
A number of institutional investors have recently bought and sold shares of CAT. Crewe Advisors LLC boosted its position in Caterpillar by 322.6% during the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 100 shares during the period. Nauset Wealth Management. LLC acquired a new stake in Caterpillar during the 1st quarter worth about $29,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Caterpillar during the 1st quarter valued at about $33,000. Castle Wealth Management LLC acquired a new stake in shares of Caterpillar during the 2nd quarter valued at about $33,000. Finally, Investors Research Corp acquired a new stake in shares of Caterpillar during the 2nd quarter valued at about $37,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
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