Analysts Set Caterpillar Inc. (NYSE:CAT) Price Target at $923.14

Caterpillar Inc. (NYSE:CAT) has earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $923.1364.

A number of brokerages recently commented on CAT. Citigroup lifted their target price on shares of Caterpillar from $905.00 to $1,020.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Robert W. Baird lifted their target price on shares of Caterpillar from $940.00 to $1,165.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Truist Financial set a $1,043.00 target price on shares of Caterpillar in a research report on Friday, May 1st. UBS Group reiterated a “neutral” rating and issued a $677.00 target price on shares of Caterpillar in a research report on Monday, February 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Caterpillar from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st.

Caterpillar Stock Performance

NYSE CAT opened at $872.61 on Friday. Caterpillar has a 52-week low of $339.50 and a 52-week high of $931.35. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The company has a market capitalization of $401.92 billion, a P/E ratio of 43.43, a P/E/G ratio of 1.73 and a beta of 1.63. The company has a fifty day moving average of $811.10 and a 200-day moving average of $702.31.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The company had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.25 EPS. As a group, equities research analysts predict that Caterpillar will post 24.67 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, April 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.06%.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 5,642 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $883.03, for a total value of $4,982,055.26. Following the transaction, the insider owned 9,594 shares in the company, valued at approximately $8,471,789.82. The trade was a 37.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer owned 52,935 shares in the company, valued at $48,631,913.85. The trade was a 22.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 98,273 shares of company stock worth $89,439,960 over the last 90 days. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Hedge funds have recently modified their holdings of the company. Lam Group Inc. purchased a new position in shares of Caterpillar in the first quarter valued at about $26,000. Torren Management LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC increased its position in shares of Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 33 shares during the period. Cedar Mountain Advisors LLC boosted its stake in shares of Caterpillar by 82.1% during the 1st quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 23 shares in the last quarter. Finally, IFS Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.