Brokerages Set Caterpillar Inc. (NYSE:CAT) Target Price at $323.35

Caterpillar Inc. (NYSE:CAT) has been given a consensus recommendation of “Hold” by the eighteen analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $323.35.

CAT has been the subject of a number of research reports. Citigroup upped their price target on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. TD Cowen raised their price target on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Wells Fargo & Company increased their price target on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and upped their price objective for the stock from $293.00 to $350.00 in a report on Friday, April 26th.

Caterpillar Stock Up 1.6 %

Shares of CAT opened at $342.15 on Friday. The firm has a market cap of $167.33 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The company’s fifty day moving average is $352.22 and its two-hundred day moving average is $304.27. Caterpillar has a fifty-two week low of $205.60 and a fifty-two week high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Analysts forecast that Caterpillar will post 21.79 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 23.48%.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the purchase, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Maclennan acquired 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds have recently modified their holdings of the stock. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the 1st quarter worth about $27,000. Fairman Group LLC acquired a new stake in Caterpillar in the 1st quarter worth approximately $29,000. Partnership Wealth Management LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Finally, Vima LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth $30,000. 70.98% of the stock is owned by institutional investors and hedge funds.

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.