Caterpillar (NYSE:CAT) Price Target Raised to $355.00

Caterpillar (NYSE:CAT) had its price target hoisted by UBS Group from $295.00 to $355.00 in a research report report published on Tuesday morning,Benzinga reports. UBS Group currently has a sell rating on the industrial products company’s stock.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Truist Financial reduced their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $384.60.

Caterpillar Price Performance

NYSE:CAT opened at $375.98 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a market cap of $181.52 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.97 and a beta of 1.13. Caterpillar has a 52 week low of $299.93 and a 52 week high of $418.50. The firm’s 50-day simple moving average is $381.68 and its 200 day simple moving average is $370.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. As a group, sell-side analysts predict that Caterpillar will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The company 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 dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.50%. Caterpillar’s payout ratio is 26.15%.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the transaction, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction on 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 trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,900 shares of company stock worth $13,111,601 over the last three months. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in Caterpillar in the 4th quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar during the third quarter valued at about $36,000. Albion Financial Group UT raised its holdings in shares of Caterpillar by 334.8% in 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. Kimelman & Baird LLC lifted its position in Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its holdings in Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

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.