Wells Fargo & Company Boosts Caterpillar (NYSE:CAT) Price Target to $325.00

Caterpillar (NYSE:CATFree Report) had its target price upped by Wells Fargo & Company from $290.00 to $325.00 in a report issued on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

CAT has been the topic of a number of other research reports. Stifel Nicolaus lifted their target price on Caterpillar from $285.00 to $293.00 and gave the company a buy rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $315.00 to $320.00 and gave the company an overweight rating in a research report on Monday, October 16th. StockNews.com downgraded Caterpillar from a strong-buy rating to a buy rating in a research report on Monday, November 20th. Sanford C. Bernstein lifted their price target on Caterpillar from $216.00 to $245.00 and gave the stock a market perform rating in a report on Thursday, December 21st. Finally, The Goldman Sachs Group lifted their price target on Caterpillar from $274.00 to $357.00 and gave the stock a buy rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $284.72.

View Our Latest Stock Report on CAT

Caterpillar Stock Performance

CAT opened at $322.00 on Tuesday. The business’s 50-day moving average price is $288.94 and its two-hundred day moving average price is $273.12. Caterpillar has a 1 year low of $204.04 and a 1 year high of $334.87. The company has a market capitalization of $163.92 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.22 and a beta of 1.15. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.92.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $3.86 EPS. Equities analysts expect that Caterpillar will post 20.52 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is currently 25.82%.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold 41,194 shares of company stock valued at $13,000,471 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caterpillar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its stake in shares of Caterpillar by 130,632.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after acquiring an additional 9,776,533 shares during the last quarter. Norges Bank bought a new position in shares of Caterpillar in the 4th quarter valued at $1,175,255,000. Ontario Teachers Pension Plan Board bought a new position in shares of Caterpillar in the 1st quarter valued at $433,134,000. Imprint Wealth LLC lifted its stake in shares of Caterpillar by 24,982.9% in the 2nd quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock valued at $153,808,000 after acquiring an additional 1,531,952 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Caterpillar by 28,603.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after acquiring an additional 1,488,813 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors.

About Caterpillar

(Get Free Report)

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

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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