Analysts Set Caterpillar Inc. (NYSE:CAT) Price Target at $374.69

Shares of Caterpillar Inc. (NYSE:CAT) have received an average rating of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $374.69.

Several equities research analysts have commented on CAT shares. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $321.00 to $365.00 in a report on Wednesday, November 13th. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird lifted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th.

Caterpillar Stock Down 0.8 %

NYSE:CAT opened at $375.80 on Friday. Caterpillar has a 1-year low of $276.94 and a 1-year high of $418.50. The company has a market capitalization of $181.44 billion, a PE ratio of 17.42, a P/E/G ratio of 1.92 and a beta of 1.10. The firm’s 50-day moving average price is $391.67 and its 200-day moving average price is $361.16. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the business posted $5.52 EPS. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts predict that Caterpillar will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the transaction, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,868 shares of company stock valued at $9,679,489. Insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

Hedge funds and other institutional investors have recently modified their holdings of the company. Smallwood Wealth Investment Management LLC increased its stake in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares in the last quarter. First Bank & Trust grew its position in shares of Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 27 shares in the last quarter. Washington Trust Bank lifted its holdings in Caterpillar by 1.2% in the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 27 shares in the last quarter. Pacifica Partners Inc. boosted its stake in Caterpillar by 1.6% in the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after purchasing an additional 28 shares during the period. Finally, Vanguard Capital Wealth Advisors grew its holdings in Caterpillar by 0.8% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 28 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

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.