Truist Financial Cuts Caterpillar (NYSE:CAT) Price Target to $438.00

Caterpillar (NYSE:CAT) had its target price decreased by Truist Financial from $455.00 to $438.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other research firms have also issued reports on CAT. Citigroup increased their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group upped their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley reduced their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $379.50.

Caterpillar Stock Performance

NYSE CAT opened at $359.04 on Monday. Caterpillar has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market capitalization of $173.35 billion, a P/E ratio of 16.27, a PEG ratio of 1.95 and a beta of 1.12. The stock has a 50-day simple moving average of $379.09 and a two-hundred day simple moving average of $371.31.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts forecast that Caterpillar will post 21.45 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

Insiders Place Their Bets

In other news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the acquisition, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares in the company, valued at $13,714,323.35. This represents a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FSM Wealth Advisors LLC raised its holdings in Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after buying an additional 25 shares during the period. Smallwood Wealth Investment Management LLC increased its position in shares of Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 26 shares during the last quarter. Allen Capital Group LLC raised its stake in shares of Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after acquiring an additional 26 shares during the period. Wagner Wealth Management LLC boosted its position in shares of Caterpillar by 4.0% during the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 26 shares during the period. Finally, First Bank & Trust increased its holdings in Caterpillar by 4.0% in the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds 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.