Caterpillar (NYSE:CAT) Price Target Raised to $500.00

Caterpillar (NYSE:CAT) had its target price raised by JPMorgan Chase & Co. from $435.00 to $500.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the company. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $349.00 to $332.00 in a research note on Monday. Finally, Citigroup boosted their target price on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $355.50.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $394.54 on Monday. The stock has a market cap of $192.95 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar has a 12 month low of $223.76 and a 12 month high of $403.60. The stock’s 50 day moving average price is $362.75 and its 200 day moving average price is $350.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.55 earnings per share. Equities research analysts anticipate that Caterpillar will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 25.46%.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC lifted its position in Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 26 shares during the last quarter. Pacifica Partners Inc. lifted its position in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 28 shares during the last quarter. Souders Financial Advisors lifted its position in Caterpillar by 0.8% during the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock worth $1,218,000 after acquiring an additional 29 shares during the last quarter. Southland Equity Partners LLC raised its position in shares of Caterpillar by 4.0% during the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after buying an additional 30 shares during the last quarter. Finally, Davis Investment Partners LLC raised its position in shares of Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds 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.