BidaskClub cut shares of Caterpillar, Inc. (NYSE:CAT) from a hold rating to a sell rating in a research report released on Thursday.
A number of other equities analysts have also recently issued reports on the company. Vetr upgraded Caterpillar from a strong sell rating to a buy rating and set a $120.03 price target on the stock in a report on Thursday, August 10th. Atlantic Securities upgraded Caterpillar from an underweight rating to a neutral rating and increased their price target for the stock from $85.00 to $115.00 in a report on Thursday, August 3rd. Argus restated a buy rating and set a $113.10 price target (down from $130.00) on shares of Caterpillar in a report on Wednesday, August 2nd. Tigress Financial upgraded Caterpillar from a neutral rating to a buy rating in a report on Monday, July 31st. Finally, Stifel Nicolaus restated a hold rating and set a $125.00 price target on shares of Caterpillar in a report on Sunday, July 30th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Caterpillar has an average rating of Hold and an average target price of $107.15.
Caterpillar (NYSE CAT) traded up 0.69% on Thursday, reaching $113.92. 3,869,392 shares of the company traded hands. The firm has a 50 day moving average of $110.79 and a 200-day moving average of $101.65. The stock has a market capitalization of $67.32 billion, a PE ratio of 636.42 and a beta of 1.25. Caterpillar has a one year low of $79.93 and a one year high of $115.46.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. On average, analysts anticipate that Caterpillar will post $5.24 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be given a dividend of $0.78 per share. The ex-dividend date is Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a dividend yield of 2.74%. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.
In other news, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,471 shares of company stock valued at $22,979,332. Insiders own 0.15% of the company’s stock.
Several large investors have recently made changes to their positions in CAT. Vanguard Group Inc. raised its stake in shares of Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. FMR LLC raised its stake in shares of Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Caterpillar during the first quarter valued at $143,490,000. Morgan Stanley raised its stake in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after buying an additional 1,365,856 shares during the period. Finally, Balyasny Asset Management LLC raised its stake in shares of Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after buying an additional 1,216,053 shares during the period. 70.27% of the stock is owned by hedge funds and other institutional investors.
About Caterpillar
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