Citigroup Reiterates “Neutral” Rating for Caterpillar (CAT)

Citigroup reissued their neutral rating on shares of Caterpillar (NYSE:CAT) in a report issued on Friday. They currently have a $185.00 price objective on the industrial products company’s stock, up from their prior price objective of $160.00.

A number of other research analysts have also recently issued reports on CAT. Wells Fargo & Co lifted their price target on Caterpillar from $160.00 to $200.00 and gave the company an outperform rating in a report on Thursday. ValuEngine cut Caterpillar from a buy rating to a hold rating in a report on Monday, October 2nd. Berenberg Bank assumed coverage on Caterpillar in a report on Thursday. They set a buy rating and a $200.00 price objective for the company. Credit Suisse Group boosted their price objective on Caterpillar from $155.00 to $192.00 and gave the stock an outperform rating in a report on Friday. Finally, Vetr cut Caterpillar from a sell rating to a strong sell rating and set a $141.37 price objective for the company. in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the stock. Caterpillar presently has an average rating of Hold and a consensus price target of $156.64.

Caterpillar (CAT) opened at $170.41 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. Caterpillar has a twelve month low of $90.34 and a twelve month high of $173.24. The stock has a market capitalization of $101,380.00, a PE ratio of 118.34, a P/E/G ratio of 2.08 and a beta of 1.29.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) 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 business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. research analysts predict that Caterpillar will post 6.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 1.83%. Caterpillar’s payout ratio is currently 216.67%.

In other news, insider Bradley M. Halverson sold 2,600 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $137.67, for a total transaction of $357,942.00. Following the completion of the transaction, the insider now directly owns 5,214 shares in the company, valued at approximately $717,811.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the transaction, the chief financial officer now owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The disclosure for this sale can be found here. Insiders have sold a total of 52,989 shares of company stock valued at $7,235,850 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Beach Investment Management LLC. acquired a new position in shares of Caterpillar during the 2nd quarter worth about $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Caterpillar by 9.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock worth $5,995,000 after buying an additional 4,291 shares during the period. Wealthsource Partners LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $316,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Caterpillar by 18.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,100 shares of the industrial products company’s stock worth $18,979,000 after buying an additional 23,749 shares during the period. Finally, FMR LLC grew its position in shares of Caterpillar by 11.7% in the 2nd 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. Institutional investors own 68.62% of the company’s stock.

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Caterpillar Company Profile

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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