Truist Financial Cuts Caterpillar (NYSE:CAT) Price Target to $455.00

Caterpillar (NYSE:CAT) had its price objective decreased by Truist Financial from $471.00 to $455.00 in a report issued on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. UBS Group increased their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, Bank of America upped their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $380.60.

Caterpillar Price Performance

CAT opened at $386.03 on Thursday. The stock’s 50 day simple moving average is $380.09 and its 200 day simple moving average is $367.03. Caterpillar has a 1 year low of $277.66 and a 1 year high of $418.50. The firm has a market cap of $186.38 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.72 and a beta of 1.13. 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 posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.52 earnings per share. As a group, analysts predict that Caterpillar will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.46%. Caterpillar’s payout ratio is presently 26.15%.

Insiders Place Their Bets

In related news, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 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. Over the last ninety days, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caterpillar

Several hedge funds have recently bought and sold shares of the stock. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at about $34,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the third quarter valued at about $36,000. Albion Financial Group UT increased its stake in Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the last quarter. Finally, Kimelman & Baird LLC raised its stake in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

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.