Caterpillar (NYSE:CAT) Shares Up 0.3% Following Analyst Upgrade

Caterpillar Inc. (NYSE:CAT) shares were up 0.3% during mid-day 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. Approximately 311,941 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,613,385 shares. The stock had previously closed at $379.63.

Several other research analysts have also issued reports on the stock. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Bank of America lifted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI cut their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $358.19.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,792 shares of company stock valued at $3,515,978. Insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its holdings in Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. Dimensional Fund Advisors LP raised its stake in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the period. International Assets Investment Management LLC lifted its holdings in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after purchasing an additional 198,123 shares during the period. Finally, Capital Research Global Investors grew its holdings in Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after buying an additional 119,326 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The firm’s 50-day moving average price is $373.55 and its 200-day moving average price is $351.65. The stock has a market cap of $185.90 billion, a P/E ratio of 17.77, a PEG ratio of 1.86 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly 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 company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.52 EPS. Sell-side analysts expect that Caterpillar Inc. will post 21.82 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is 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.