Deutsche Bank set a $177.00 price objective on Caterpillar (NYSE:CAT) in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the industrial products company’s stock.
Several other brokerages have also weighed in on CAT. Stifel Nicolaus cut their target price on Caterpillar from $174.00 to $168.00 and set a hold rating on the stock in a research report on Tuesday, August 7th. UBS Group set a $185.00 target price on Caterpillar and gave the stock a buy rating in a research report on Wednesday, September 5th. Wells Fargo & Co set a $145.00 target price on Caterpillar and gave the stock a buy rating in a research report on Wednesday. ValuEngine lowered Caterpillar from a hold rating to a sell rating in a research report on Thursday, October 18th. Finally, Zacks Investment Research raised Caterpillar from a hold rating to a buy rating and set a $155.00 target price on the stock in a research report on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Caterpillar presently has an average rating of Buy and an average target price of $159.69.
Shares of CAT opened at $115.05 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.97 and a current ratio of 1.48. The firm has a market capitalization of $68.38 billion, a P/E ratio of 10.64, a PEG ratio of 0.63 and a beta of 1.38. Caterpillar has a twelve month low of $112.25 and a twelve month high of $173.24.
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. The ex-dividend date of this dividend is Friday, October 19th. This represents a $3.44 annualized dividend and a yield of 2.99%. Caterpillar’s dividend payout ratio is currently 50.00%.
In related news, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now directly owns 22,826 shares in the company, valued at approximately $3,519,312.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of Caterpillar by 5.4% during the second quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock valued at $874,069,000 after acquiring an additional 327,470 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Caterpillar by 7.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,239,504 shares of the industrial products company’s stock valued at $303,834,000 after acquiring an additional 145,707 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Caterpillar by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock valued at $291,325,000 after acquiring an additional 151,960 shares in the last quarter. Swiss National Bank grew its stake in shares of Caterpillar by 3.5% during the second quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock valued at $268,086,000 after acquiring an additional 67,200 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Caterpillar by 23.6% during the second quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock valued at $265,581,000 after acquiring an additional 374,038 shares in the last quarter. Institutional investors 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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