Caterpillar (NYSE:CAT) Upgraded by UBS Group to “Neutral” Rating

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

A number of other research firms have also recently weighed in on CAT. Robert W. Baird increased 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. Citigroup lifted their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday. Truist Financial decreased their price target 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, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $381.00.

Caterpillar Stock Down 2.6 %

Shares of CAT opened at $361.62 on Monday. The stock has a fifty day simple moving average of $380.88 and a two-hundred day simple moving average of $371.17. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $174.59 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. Caterpillar has a 52-week low of $307.05 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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 net margin of 16.65% and a return on equity of 58.18%. As a group, equities analysts forecast that Caterpillar will post 21.45 EPS for the current year.

Caterpillar Announces Dividend

The company 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. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.56%. Caterpillar’s dividend payout ratio is presently 25.56%.

Insiders Place Their Bets

In other news, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares of the company’s stock, valued at $2,079,968. The trade was a 20.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,236 shares of company stock valued at $12,102,371. Insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

Large investors have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the third quarter valued at about $36,000. Albion Financial Group UT lifted its position in shares of Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares in the last quarter. Kimelman & Baird LLC boosted 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 buying an additional 30 shares during 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 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.