Caterpillar (NYSE:CAT) Price Target Raised to $355.00 at UBS Group

Caterpillar (NYSE:CAT) had its price objective boosted by UBS Group from $295.00 to $355.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a sell rating on the industrial products company’s stock.

Several other analysts have also issued reports on the company. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price on the stock in a research note on Monday, January 13th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Jefferies Financial Group boosted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial reduced their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Robert W. Baird increased their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $384.60.

Caterpillar Trading Down 4.4 %

NYSE CAT opened at $375.98 on Tuesday. The business’s fifty day moving average is $381.68 and its 200-day moving average is $370.78. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market capitalization of $181.52 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.97 and a beta of 1.13. Caterpillar has a one year low of $299.93 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Equities research analysts predict that Caterpillar will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.50%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insiders Place Their Bets

In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,900 shares of company stock valued at $13,111,601 over the last three months. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after acquiring an additional 10,212 shares in the last quarter. West Wealth Group LLC bought a new position in Caterpillar in the fourth quarter worth $230,000. Alpha Cubed Investments LLC boosted its holdings in shares of Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Cadinha & Co. LLC bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $11,084,000. Institutional investors 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.