Caterpillar (NYSE:CAT) Price Target Cut to $438.00 by Analysts at Truist Financial

Caterpillar (NYSE:CAT) had its target price lowered by Truist Financial from $455.00 to $438.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on the company. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research note on Monday, January 13th. Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Robert W. Baird increased their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $381.00.

Caterpillar Stock Performance

NYSE:CAT opened at $361.62 on Monday. Caterpillar has a 52-week low of $307.05 and a 52-week high of $418.50. The business’s fifty day moving average is $380.88 and its 200 day moving average is $371.17. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market cap of $174.59 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.95 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Research analysts predict that Caterpillar will post 21.45 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors 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 annualized dividend and a dividend yield of 1.56%. Caterpillar’s payout ratio is presently 25.56%.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. The trade was a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,236 shares of company stock valued at $12,102,371 in the last 90 days. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Caterpillar during the third quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $34,000. Kimelman & Baird LLC boosted its stake in Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the last quarter. Albion Financial Group UT increased its holdings in Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its position in Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after buying an additional 65 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

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.