Caterpillar (CAT) Cut to “Positive” at OTR Global

OTR Global cut shares of Caterpillar (NYSE:CAT) to a positive rating in a research note published on Monday morning, The Fly reports.

Other research analysts have also recently issued reports about the company. Tigress Financial reaffirmed a buy rating on shares of Caterpillar in a research report on Monday, September 18th. Vetr raised Caterpillar from a sell rating to a hold rating and set a $131.05 price objective on the stock in a research report on Thursday, October 19th. Barclays began coverage on Caterpillar in a research report on Tuesday, December 12th. They set an overweight rating and a $162.00 price objective on the stock. BidaskClub raised Caterpillar from a sell rating to a hold rating in a research report on Friday, August 25th. Finally, Deutsche Bank set a $149.00 price objective on Caterpillar and gave the company a hold rating in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $139.14.

Caterpillar (NYSE CAT) opened at $152.52 on Monday. Caterpillar has a 12-month low of $90.34 and a 12-month high of $152.60. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market capitalization of $90,740.00, a PE ratio of 26.99, a PEG ratio of 2.25 and a beta of 1.29.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. sell-side analysts predict that Caterpillar will post 6.44 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a yield of 2.05%. Caterpillar’s dividend payout ratio is presently 216.67%.

In other Caterpillar news, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the sale, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley M. Halverson sold 2,600 shares of Caterpillar stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $137.67, for a total value of $357,942.00. Following the completion of the sale, the insider now directly owns 5,214 shares in the company, valued at approximately $717,811.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,989 shares of company stock worth $7,235,850. 0.14% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. AustralianSuper Pty Ltd bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $6,535,000. Parametric Portfolio Associates LLC increased its position in shares of Caterpillar by 4.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,642,402 shares of the industrial products company’s stock valued at $204,824,000 after purchasing an additional 73,333 shares during the last quarter. AXA increased its position in shares of Caterpillar by 1.4% during the 3rd quarter. AXA now owns 147,194 shares of the industrial products company’s stock valued at $18,356,000 after purchasing an additional 2,064 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $1,989,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Caterpillar by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 394,172 shares of the industrial products company’s stock valued at $49,157,000 after purchasing an additional 1,825 shares during the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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