Caterpillar (NYSE:CAT) Trading 0.3% Higher Following Analyst Upgrade

Shares of Caterpillar Inc. (NYSE:CAT) traded up 0.3% during trading on Monday after UBS Group raised their price target on the stock from $285.00 to $295.00. UBS Group currently has a sell rating on the stock. Caterpillar traded as high as $381.48 and last traded at $380.59. 311,941 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,613,385 shares. The stock had previously closed at $379.63.

Several other analysts have also recently weighed in on the company. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average price target of $358.19.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors have recently made changes to their positions in the business. Norden Group LLC bought a new position in shares of Caterpillar during the first quarter valued at approximately $672,000. Jennison Associates LLC raised its position in shares of Caterpillar by 26.4% in the 1st quarter. Jennison Associates LLC now owns 267,888 shares of the industrial products company’s stock worth $98,162,000 after acquiring an additional 55,935 shares in the last quarter. Patron Partners LLC bought a new stake in shares of Caterpillar during the 1st quarter valued at $224,000. Central Pacific Bank Trust Division purchased a new stake in shares of Caterpillar in the 1st quarter worth about $379,000. Finally, Comprehensive Financial Consultants Institutional Inc. grew its holdings in Caterpillar by 8.9% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 1,646 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.5 %

The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $183.24 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company’s fifty day moving average price is $372.40 and its 200-day moving average price is $351.32.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during 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%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.52 EPS. Analysts forecast that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Caterpillar Company Profile

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.