Caterpillar (NYSE:CAT) had its target price reduced by Credit Suisse Group from $210.00 to $183.00 in a report issued on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the industrial products company’s stock.
Several other research analysts also recently commented on CAT. Robert W. Baird set a $171.00 price target on shares of Caterpillar and gave the stock a buy rating in a research note on Wednesday. ValuEngine cut shares of Caterpillar from a hold rating to a sell rating in a report on Thursday, October 18th. Wells Fargo & Co set a $145.00 target price on shares of Caterpillar and gave the stock a buy rating in a report on Wednesday. Citigroup cut their target price on shares of Caterpillar from $175.00 to $160.00 and set a buy rating on the stock in a report on Wednesday. Finally, Cleveland Research restated a hold rating on shares of Caterpillar in a report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Caterpillar has an average rating of Buy and an average target price of $159.69.
CAT stock opened at $115.05 on Wednesday. The company has a market cap of $68.72 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. Caterpillar has a one year low of $112.25 and a one year high of $173.24. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 1.60.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s dividend payout ratio (DPR) is currently 50.00%.
In related news, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the sale, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Acropolis Investment Management LLC bought a new stake in Caterpillar in the third quarter valued at $100,000. Sound Income Strategies LLC boosted its holdings in Caterpillar by 181.8% in the third quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 429 shares in the last quarter. St. Johns Investment Management Company LLC bought a new stake in Caterpillar in the third quarter valued at $106,000. Landaas & Co. WI ADV bought a new stake in Caterpillar in the second quarter valued at $130,000. Finally, Avestar Capital LLC boosted its holdings in Caterpillar by 92.3% in the second quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 477 shares in the last quarter. Institutional investors and hedge funds own 66.63% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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