Caterpillar (NYSE:CAT) Upgraded by Robert W. Baird to Outperform Rating

Robert W. Baird upgraded shares of Caterpillar (NYSE:CAT) from a neutral rating to an outperform rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has $395.00 target price on the industrial products company’s stock, up from their previous target price of $309.00.

A number of other research firms have also weighed in on CAT. Wedbush raised shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Bank of America lowered their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. DA Davidson raised their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.83.

Caterpillar Price Performance

Caterpillar stock opened at $352.58 on Tuesday. Caterpillar has a 52-week low of $267.30 and a 52-week high of $418.50. The firm has a fifty day moving average of $317.07 and a 200-day moving average of $354.64. The firm has a market capitalization of $166.08 billion, a P/E ratio of 15.98, a PEG ratio of 1.87 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the previous year, the company earned $5.60 EPS. Caterpillar’s revenue was down 9.8% on a year-over-year basis. As a group, analysts predict that Caterpillar will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar’s dividend payout ratio is 27.49%.

Insider Activity

In related news, Director David Maclennan bought 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Institutional investors have recently bought and sold shares of the business. West Wealth Group LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $230,000. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $11,084,000. Atomi Financial Group Inc. boosted its stake in shares of Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after purchasing an additional 871 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after purchasing an additional 614 shares in the last quarter. Finally, Zhang Financial LLC boosted its stake in shares of Caterpillar by 8.7% in the 4th quarter. Zhang Financial LLC now owns 9,158 shares of the industrial products company’s stock valued at $3,322,000 after purchasing an additional 736 shares in 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.