Citigroup Boosts Caterpillar (NYSE:CAT) Price Target to $460.00

Caterpillar (NYSE:CAT) had its price objective increased by Citigroup from $435.00 to $460.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on CAT. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. UBS Group increased their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $374.69.

Caterpillar Trading Up 1.1 %

NYSE:CAT opened at $399.34 on Monday. Caterpillar has a 12 month low of $259.12 and a 12 month high of $418.50. The company has a 50 day simple moving average of $393.01 and a two-hundred day simple moving average of $359.52. The company has a market cap of $192.80 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the firm posted $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Research analysts forecast that Caterpillar will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Insider Buying and Selling at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. The trade was a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,868 shares of company stock worth $9,679,489. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Caterpillar by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after buying an additional 67,148 shares during the last quarter. Fisher Asset Management LLC raised its stake in Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after acquiring an additional 205,012 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after acquiring an additional 64,452 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after buying an additional 8,088 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.