Caterpillar (NYSE:CAT – Get Rating) had its price target trimmed by UBS Group from $250.00 to $225.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the industrial products company’s stock.
Other research analysts have also issued research reports about the company. Credit Suisse Group set a $226.00 price objective on Caterpillar in a report on Tuesday, July 19th. Morgan Stanley lowered their price objective on Caterpillar from $161.00 to $142.00 and set an underweight rating on the stock in a report on Monday, July 18th. JPMorgan Chase & Co. lowered their price objective on Caterpillar from $250.00 to $205.00 and set an overweight rating on the stock in a report on Tuesday, July 12th. Robert W. Baird reissued an outperform rating and set a $280.00 price objective on shares of Caterpillar in a report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Caterpillar from $240.00 to $227.00 and set a buy rating on the stock in a report on Wednesday, July 13th. 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. Based on data from MarketBeat.com, Caterpillar has an average rating of Moderate Buy and an average target price of $225.27.
Caterpillar Stock Performance
Shares of CAT stock opened at $185.39 on Wednesday. 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 has a fifty-two week low of $167.08 and a fifty-two week high of $237.90. The stock’s 50-day moving average is $191.68 and its two-hundred day moving average is $203.92. The firm has a market cap of $98.88 billion, a P/E ratio of 14.83, a PEG ratio of 1.21 and a beta of 1.01.
Caterpillar Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.59%. The ex-dividend date is Tuesday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. Caterpillar’s dividend payout ratio is presently 38.40%.
Insider Buying and Selling
In related news, insider Joseph E. Creed sold 2,757 shares of the company’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total transaction of $590,356.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.
Institutional Trading of Caterpillar
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Caterpillar by 1.4% during the first quarter. Vanguard Group Inc. now owns 48,223,787 shares of the industrial products company’s stock worth $10,745,224,000 after buying an additional 663,885 shares during the last quarter. BlackRock Inc. increased its position in Caterpillar by 2.7% during the first quarter. BlackRock Inc. now owns 37,494,751 shares of the industrial products company’s stock worth $8,354,582,000 after buying an additional 992,608 shares during the last quarter. Capital World Investors increased its position in Caterpillar by 51.7% during the first quarter. Capital World Investors now owns 20,124,623 shares of the industrial products company’s stock worth $4,484,176,000 after buying an additional 6,861,936 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Caterpillar by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 8,619,170 shares of the industrial products company’s stock valued at $1,776,940,000 after purchasing an additional 52,169 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Caterpillar by 3.8% in the first quarter. Fisher Asset Management LLC now owns 7,272,322 shares of the industrial products company’s stock valued at $1,620,419,000 after purchasing an additional 268,133 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.
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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