Caterpillar Inc. (CAT) Receives $168.69 Consensus Price Target from Analysts

Thursday, June 7 2018

Caterpillar Inc. (CAT) Receives $168.69 Consensus Price Target from Analysts

Caterpillar Inc. (CAT) Receives $168.69 Consensus Price Target from Analysts Posted by Dante Gardener | Jun 7th, 2018
Caterpillar Inc. (NYSE:CAT) has been assigned a consensus recommendation of “Buy” from the thirty ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $168.69.
Several brokerages recently weighed in on CAT. Seaport Global Securities raised shares of Caterpillar from a “neutral” rating to a “buy” rating and upped their target price for the stock from $170.90 to $195.00 in a research note on Tuesday, January 23rd. Barclays set a $180.00 target price on shares of Caterpillar and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a $169.37 target price (down from $210.00) on shares of Caterpillar in a research note on Friday, January 26th. Royal Bank of Canada reissued a “hold” rating and issued a $188.00 price objective on shares of Caterpillar in a research report on Friday, January 26th. Finally, Bank of America increased their price objective on shares of Caterpillar from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Get Caterpillar alerts:
Shares of CAT opened at $156.20 on Friday. Caterpillar has a fifty-two week low of $102.06 and a fifty-two week high of $173.24. The company has a market cap of $95.03 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The company has a current ratio of 1.36, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.71. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The firm had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.99 billion. During the same period in the prior year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. research analysts forecast that Caterpillar will post 10.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, May 19th. Stockholders of record on Monday, April 23rd were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Friday, April 20th. Caterpillar’s payout ratio is 45.35%.
In other news, insider Thomas A. Pellette sold 54,481 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $150.17, for a total value of $8,181,411.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, Director David L. Calhoun purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average price of $155.37 per share, with a total value of $776,850.00. Following the purchase, the director now owns 19,579 shares in the company, valued at $3,041,989.23. The disclosure for this purchase can be found here . Corporate insiders own 0.36% of the company’s stock.
A number of large investors have recently modified their holdings of CAT. Jennison Associates LLC boosted its stake in Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after purchasing an additional 3,324,051 shares during the period. BlackRock Inc. boosted its stake in Caterpillar by 6.5% during the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after purchasing an additional 2,297,750 shares during the period. Prudential Financial Inc. boosted its stake in Caterpillar by 99.6% during the 1st quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products company’s stock worth $293,415,000 after purchasing an additional 993,438 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Caterpillar during the 4th quarter worth $148,604,000. Finally, CI Investments Inc. boosted its stake in Caterpillar by 400,906.6% during the 4th quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock worth $104,896,000 after purchasing an additional 665,505 shares during the period. Hedge funds and other institutional investors own 66.86% of the company’s stock.
About Caterpillar
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors. Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter . «