Caterpillar (NYSE:CAT) Shares Up 2.3% on Analyst Upgrade

Caterpillar Inc. (NYSE:CAT)’s share price traded up 2.3% during trading on Tuesday after UBS Group raised their price target on the stock from $285.00 to $295.00. UBS Group currently has a sell rating on the stock. Caterpillar traded as high as $386.07 and last traded at $385.12. 443,980 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 2,609,759 shares. The stock had previously closed at $376.52.

Several other research firms have also commented on CAT. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Citigroup lowered their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Bank of America increased their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine 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 an average rating of “Hold” and a consensus target price of $358.19.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was 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 directly owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,792 shares of company stock worth $3,515,978. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar during the 3rd quarter worth about $36,000. Finally, POM Investment Strategies LLC increased its position in shares of Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.8 %

The business has a 50-day moving average of $373.55 and a 200-day moving average of $351.65. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock has a market capitalization of $185.90 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.86 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.52 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 21.82 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

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.