Deutsche Bank AG reiterated their hold rating on shares of Caterpillar, Inc. (NYSE:CAT) in a research note issued to investors on Monday. Deutsche Bank AG currently has a $121.00 price target on the industrial products company’s stock, up from their previous price target of $120.00.
Other analysts have also issued research reports about the company. TheStreet upgraded Caterpillar from a c+ rating to a b rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Caterpillar from a hold rating to a buy rating and set a $121.00 target price for the company in a report on Friday, July 14th. BidaskClub upgraded Caterpillar from a hold rating to a buy rating in a report on Saturday, July 1st. Credit Suisse Group reiterated a buy rating and set a $123.00 price objective on shares of Caterpillar in a report on Wednesday, June 28th. Finally, Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the company a buy rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $116.98.
Shares of Caterpillar (CAT) traded up 0.08% on Monday, reaching $128.70. The company’s stock had a trading volume of 145,748 shares. The firm has a 50-day moving average price of $121.75 and a 200 day moving average price of $108.87. Caterpillar has a one year low of $80.33 and a one year high of $128.94. The firm has a market capitalization of $76.06 billion, a PE ratio of 718.99 and a beta of 1.26.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. Caterpillar’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, analysts anticipate that Caterpillar will post $5.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.43%. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
In other news, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.14% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in shares of Caterpillar by 10.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares during the period. Baker Ellis Asset Management LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $104,000. Motco raised its position in shares of Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC raised its position in shares of Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares during the period. 69.24% of the stock is currently owned by hedge funds and other institutional investors.
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.