Caterpillar’s (CAT) Buy Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of Caterpillar, Inc. (NYSE:CAT) in a report issued on Friday. They currently have a $150.00 price target on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company reiterated an outperform rating on shares of Caterpillar in a report on Wednesday, July 26th. Vetr upgraded shares of Caterpillar from a strong sell rating to a buy rating and set a $120.03 price target for the company in a report on Thursday, August 10th. Citigroup Inc. boosted their price target on shares of Caterpillar from $115.00 to $125.00 and gave the company a neutral rating in a report on Wednesday, July 26th. Axiom Securities restated a sell rating on shares of Caterpillar in a report on Thursday, July 13th. Finally, Tigress Financial restated a buy rating on shares of Caterpillar in a report on Monday, September 18th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $119.82.

Shares of Caterpillar (NYSE:CAT) traded up 0.45% during trading on Friday, hitting $131.36. 3,086,775 shares of the company traded hands. The company has a 50 day moving average price of $124.78 and a 200 day moving average price of $110.67. The company has a market capitalization of $77.63 billion, a price-to-earnings ratio of 733.85 and a beta of 1.26. Caterpillar has a 52 week low of $80.33 and a 52 week high of $132.12.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business posted $1.09 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts expect that Caterpillar will post $5.29 earnings per share for the current year.

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The firm 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 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s payout ratio is 2,080.00%.

In related news, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 in the last ninety days. Insiders own 0.14% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CAT. Vanguard Group Inc. grew its holdings in shares of Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares during the period. FMR LLC grew its holdings in shares of Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $143,490,000. Morgan Stanley grew its holdings in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the period. Finally, Balyasny Asset Management LLC grew its holdings in shares of Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after purchasing an additional 1,216,053 shares during the period. 69.23% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

Analyst Recommendations for Caterpillar (NYSE:CAT)

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