Caterpillar (NYSE:CAT) Price Target Raised to $357.00 at DA Davidson

Caterpillar (NYSE:CAT) had its price target increased by DA Davidson from $350.00 to $357.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Several other brokerages have also issued reports on CAT. Citigroup increased their price target on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $385.00 in a report on Monday. Jefferies Financial Group increased their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Morgan Stanley lowered their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $379.50.

Caterpillar Trading Up 0.2 %

Shares of CAT stock opened at $362.21 on Tuesday. Caterpillar has a 1 year low of $307.05 and a 1 year high of $418.50. The company’s fifty day simple moving average is $380.00 and its two-hundred day simple moving average is $371.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market capitalization of $174.88 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.95 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, analysts anticipate that Caterpillar will post 21.45 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.56%. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

Insider Transactions at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares in the company, valued at $13,714,323.35. This represents a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,936 shares of company stock valued at $11,558,971. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Zurich Insurance Group Ltd FI grew its position in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after buying an additional 249,155 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Caterpillar by 36,168.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after acquiring an additional 226,415 shares during the period. Fisher Asset Management LLC raised its stake in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after buying an additional 205,012 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Caterpillar by 34.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after purchasing an additional 200,210 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.