Investment Analysts’ Recent Ratings Changes for Caterpillar (CAT)

Caterpillar (NYSE: CAT) has recently received a number of price target changes and ratings updates:

• 12/10/2024 – Caterpillar was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 12/9/2024 – Caterpillar had its price target raised by analysts at JPMorgan Chase & Co. from $500.00 to $515.00. They now have an “overweight” rating on the stock.
• 12/9/2024 – Caterpillar had its price target raised by analysts at Citigroup Inc. from $435.00 to $460.00. They now have a “buy” rating on the stock.
• 12/6/2024 – Caterpillar had its price target raised by analysts at Jefferies Financial Group Inc. from $455.00 to $475.00. They now have a “buy” rating on the stock.
• 11/13/2024 – Caterpillar was downgraded by analysts at Evercore ISI from an “in-line” rating to an “underperform” rating. They now have a $365.00 price target on the stock, up previously from $321.00.
• 11/4/2024 – Caterpillar had its price target raised by analysts at UBS Group AG from $285.00 to $295.00. They now have a “sell” rating on the stock.
• 10/31/2024 – Caterpillar had its price target raised by analysts at Robert W. Baird from $299.00 to $300.00. They now have an “underperform” rating on the stock.
• 10/31/2024 – Caterpillar had its price target lowered by analysts at Citigroup Inc. from $445.00 to $435.00. They now have a “buy” rating on the stock.
• 10/14/2024 – Caterpillar was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $332.00 price target on the stock, down previously from $349.00.
• 10/14/2024 – Caterpillar had its price target raised by analysts at JPMorgan Chase & Co. from $435.00 to $500.00. They now have an “overweight” rating on the stock.

Caterpillar Stock Performance

Caterpillar stock traded up $0.45 on Friday, reaching $381.23. 511,870 shares of the stock were exchanged, compared to its average volume of 2,546,799. Caterpillar Inc. has a twelve month low of $270.55 and a twelve month high of $418.50. The stock has a market cap of $184.06 billion, a PE ratio of 17.67, a PEG ratio of 1.92 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average price of $392.62 and a two-hundred day moving average price of $360.15.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.52 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. Caterpillar’s payout ratio is 26.15%.

Insiders Place Their Bets

In other news, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, with a total value of $39,857.00. Following the completion of the transaction, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. The trade was a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 23,868 shares of company stock valued at $9,679,489 in the last quarter. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caterpillar

Large investors have recently modified their holdings of the company. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter worth about $28,000. Fairscale Capital LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar during the 3rd quarter worth approximately $36,000. POM Investment Strategies LLC boosted its stake in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares in the last quarter. Finally, Kimelman & Baird LLC boosted its stake in Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

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