Vetr downgraded shares of Caterpillar, Inc. (NYSE:CAT) from a hold rating to a sell rating in a report issued on Monday morning. They currently have $122.98 price objective on the industrial products company’s stock.
Several other research analysts have also recently weighed in on the company. Goldman Sachs Group, Inc. (The) raised their target price on Caterpillar from $143.00 to $158.00 and gave the company a buy rating in a research note on Monday. Deutsche Bank AG reaffirmed a hold rating and set a $121.00 target price (up previously from $120.00) on shares of Caterpillar in a research note on Monday. ValuEngine cut Caterpillar from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research cut Caterpillar from a strong-buy rating to a hold rating in a research note on Tuesday, September 26th. Finally, Credit Suisse Group reaffirmed a hold rating and set a $133.00 target price on shares of Caterpillar in a research note on Friday, September 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $116.98.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis.
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The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio is 2,080.00%.
In related news, Director William A. Osborn sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,471 shares of company stock valued at $22,979,332. 0.14% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in CAT. Girard Partners LTD. lifted its stake in Caterpillar by 26.9% in the 1st quarter. Girard Partners LTD. now owns 7,127 shares of the industrial products company’s stock worth $661,000 after acquiring an additional 1,510 shares in the last quarter. Henderson Group PLC lifted its stake in Caterpillar by 0.6% in the 1st quarter. Henderson Group PLC now owns 168,943 shares of the industrial products company’s stock worth $15,672,000 after acquiring an additional 1,000 shares in the last quarter. HPM Partners LLC purchased a new stake in Caterpillar in the 1st quarter worth about $296,000. Checchi Capital Advisers LLC lifted its stake in Caterpillar by 9.2% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,863 shares of the industrial products company’s stock worth $544,000 after acquiring an additional 495 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. lifted its stake in Caterpillar by 19.3% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 3,403 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 551 shares in the last quarter. 69.24% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
To view Vetr’s full report, visit Vetr’s official website.
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