Caterpillar (NYSE:CAT) PT Lowered to $263.00 at Evercore ISI

Caterpillar (NYSE:CAT – Get Rating) had its price target trimmed by Evercore ISI from $288.00 to $263.00 in a research report sent to investors on Tuesday, The Fly reports.

Several other equities research analysts also recently issued reports on CAT. William Blair restated a market perform rating on shares of Caterpillar in a research report on Tuesday, January 31st. StockNews.com upgraded Caterpillar from a buy rating to a strong-buy rating in a research report on Friday, April 28th. UBS Group dropped their target price on Caterpillar from $210.00 to $208.00 in a research report on Friday, April 28th. Robert W. Baird dropped their target price on Caterpillar from $185.00 to $180.00 in a research report on Monday. Finally, BMO Capital Markets increased their price objective on Caterpillar from $210.00 to $230.00 in a research report on Tuesday, February 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $238.94.

Caterpillar Stock Performance

CAT stock opened at $213.49 on Tuesday. The firm has a market cap of $110.02 billion, a PE ratio of 15.78, a P/E/G ratio of 1.03 and a beta of 1.09. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $223.65 and a 200-day moving average of $233.20. Caterpillar has a 12-month low of $160.60 and a 12-month high of $266.04.

Caterpillar (NYSE:CAT – Get Rating) last released its earnings results on Thursday, April 27th. The industrial products company reported $4.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.12. Caterpillar had a return on equity of 50.98% and a net margin of 11.52%. The company had revenue of $15.86 billion during the quarter, compared to analyst estimates of $15.27 billion. During the same period in the prior year, the company posted $2.88 earnings per share. Caterpillar’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar will post 17.37 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Monday, April 24th will be issued a $1.20 dividend. The ex-dividend date is Friday, April 21st. This represents a $4.80 annualized dividend and a dividend yield of 2.25%. Caterpillar’s dividend payout ratio is currently 35.48%.

Insider Transactions at Caterpillar

In other news, General Counsel Suzette M. Long sold 8,000 shares of Caterpillar stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $251.04, for a total value of $2,008,320.00. Following the transaction, the general counsel now owns 8,776 shares in the company, valued at $2,203,127.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Caterpillar news, Director David Maclennan purchased 400 shares of Caterpillar stock in a transaction that occurred on Friday, February 17th. The shares were bought at an average price of $249.29 per share, for a total transaction of $99,716.00. Following the acquisition, the director now directly owns 3,709 shares in the company, valued at $924,616.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Suzette M. Long sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $251.04, for a total value of $2,008,320.00. Following the transaction, the general counsel now owns 8,776 shares in the company, valued at approximately $2,203,127.04. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BCK Partners Inc. bought a new stake in Caterpillar during the 1st quarter valued at approximately $2,580,000. Sei Investments Co. boosted its position in Caterpillar by 17.3% during the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after acquiring an additional 9,695 shares in the last quarter. Dakota Wealth Management bought a new stake in Caterpillar during the 1st quarter valued at approximately $405,000. Mather Group LLC. boosted its position in Caterpillar by 6.8% during the 1st quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Caterpillar by 4.4% during the 1st quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after acquiring an additional 2,076 shares in the last quarter. Hedge funds and other institutional investors own 68.02% of the company’s stock.

About Caterpillar

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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.