Caterpillar (NYSE:CAT) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Caterpillar (NYSE:CAT) from a sell rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. The brokerage currently has $385.00 price target on the industrial products company’s stock, up from their prior price target of $355.00.

CAT has been the subject of several other reports. Morgan Stanley cut their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Truist Financial dropped their target price on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Citigroup increased their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $379.50.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $359.04 on Monday. The stock’s 50 day moving average price is $379.09 and its 200 day moving average price is $371.31. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market cap of $173.35 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.95 and a beta of 1.12. Caterpillar has a 12 month low of $307.05 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities research analysts anticipate that Caterpillar will post 21.45 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.57%. Caterpillar’s payout ratio is 25.56%.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 2,953 shares in the company, valued at $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CAT. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the 3rd quarter worth approximately $36,000. Finally, Albion Financial Group UT grew its position in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.