Analysts Set Caterpillar Inc. (NYSE:CAT) Target Price at $374.69

Shares of Caterpillar Inc. (NYSE:CAT) have been given an average recommendation of “Hold” by the seventeen analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $384.33.

CAT has been the subject of a number of analyst reports. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Robert W. Baird boosted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lifted their target price on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, December 9th.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the transaction, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This represents 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 three months. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAT. Alpha Cubed Investments LLC increased its holdings in shares of Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the period. Citizens Financial Group Inc. RI grew its position in Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares in the last quarter. First Affirmative Financial Network purchased a new stake in Caterpillar in the 3rd quarter worth approximately $204,000. Inspire Advisors LLC boosted its stake in shares of Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC increased its stake in shares of Caterpillar by 33.7% in the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after acquiring an additional 4,182 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 1.6 %

Shares of NYSE CAT opened at $366.04 on Friday. The stock has a market capitalization of $176.72 billion, a P/E ratio of 16.97, a PEG ratio of 1.92 and a beta of 1.10. The stock’s 50 day moving average price is $389.58 and its two-hundred day moving average price is $361.66. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar has a 52-week low of $276.94 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the firm earned $5.52 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts anticipate that Caterpillar will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.54%. Caterpillar’s dividend payout ratio is currently 26.15%.

About Caterpillar

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.