Caterpillar (NYSE:CAT) Given New $435.00 Price Target at Citigroup

Caterpillar (NYSE:CAT) had its price target trimmed by Citigroup from $445.00 to $435.00 in a research note published on Thursday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays boosted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday. Evercore ISI dropped their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $357.56.

Caterpillar Trading Down 0.8 %

Shares of NYSE:CAT opened at $376.20 on Thursday. Caterpillar has a 52-week low of $223.76 and a 52-week high of $403.60. The stock has a market capitalization of $182.42 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.86 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.78 and a current ratio of 1.40. The stock’s 50-day simple moving average is $371.78 and its two-hundred day simple moving average is $351.32.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.52 earnings per share. Analysts expect that Caterpillar will post 21.88 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently modified their holdings of CAT. Philip James Wealth Mangement LLC bought a new stake in Caterpillar in the third quarter worth $481,000. Stiles Financial Services Inc raised its stake in shares of Caterpillar by 4.3% in the third quarter. Stiles Financial Services Inc now owns 2,736 shares of the industrial products company’s stock valued at $1,070,000 after acquiring an additional 112 shares during the period. Summit Global Investments lifted its holdings in shares of Caterpillar by 6.7% in the 3rd quarter. Summit Global Investments now owns 1,843 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 115 shares during the last quarter. Smith Thornton Advisors LLC purchased a new position in shares of Caterpillar during the 3rd quarter worth about $233,000. Finally, First National Bank & Trust Co. of Newtown grew its holdings in Caterpillar by 0.7% during the 3rd quarter. First National Bank & Trust Co. of Newtown now owns 9,589 shares of the industrial products company’s stock valued at $3,750,000 after purchasing an additional 63 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

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.