Citigroup Raises Caterpillar (NYSE:CAT) Price Target to $430.00

Caterpillar (NYSE:CAT) had its price target hoisted by Citigroup from $420.00 to $430.00 in a research note issued to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

CAT has been the subject of several other research reports. Jefferies Financial Group lifted their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a research note on Monday, January 13th. Morgan Stanley dropped their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday. Finally, UBS Group lifted their price objective on Caterpillar from $295.00 to $355.00 and gave the stock a “sell” rating in a report on Tuesday, January 28th. Three 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $380.13.

Caterpillar Stock Down 0.8 %

CAT stock opened at $371.88 on Friday. Caterpillar has a twelve month low of $299.93 and a twelve month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock’s 50 day moving average is $380.88 and its 200-day moving average is $371.07. The firm has a market capitalization of $179.54 billion, a PE ratio of 17.24, a P/E/G ratio of 2.05 and a beta of 1.13.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Sell-side analysts expect that Caterpillar will post 21.71 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Activity

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,236 shares of company stock valued at $12,102,371 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

Large investors have recently modified their holdings of the company. FSM Wealth Advisors LLC raised its stake in shares of Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after buying an additional 25 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its stake in Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after buying an additional 26 shares in the last quarter. Allen Capital Group LLC raised its holdings in shares of Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after purchasing an additional 26 shares during the last quarter. Wagner Wealth Management LLC increased its holdings in Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after buying an additional 26 shares during the last quarter. Finally, First Bank & Trust increased its holdings in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.