Caterpillar (NYSE:CAT) Rating Reiterated by Oppenheimer

Oppenheimer restated their market perform rating on shares of Caterpillar (NYSE:CATFree Report) in a report released on Thursday, Benzinga reports.

Several other brokerages also recently commented on CAT. Robert W. Baird boosted their price objective on Caterpillar from $210.00 to $257.00 and gave the company an underperform rating in a research report on Tuesday, February 6th. Sanford C. Bernstein boosted their price objective on Caterpillar from $216.00 to $245.00 and gave the company a market perform rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. boosted their target price on Caterpillar from $385.00 to $435.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their target price on Caterpillar from $290.00 to $325.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley initiated coverage on Caterpillar in a research report on Monday, January 8th. They issued an equal weight rating and a $270.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $307.56.

Get Our Latest Stock Analysis on CAT

Caterpillar Price Performance

NYSE CAT opened at $354.66 on Thursday. The company has a market capitalization of $177.12 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The business’s fifty day moving average is $346.70 and its 200 day moving average is $298.22. Caterpillar has a fifty-two week low of $204.04 and a fifty-two week high of $382.01.

Caterpillar (NYSE:CATGet Free Report) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. The company had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. Caterpillar’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.86 earnings per share. Sell-side analysts predict that Caterpillar will post 21.41 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be paid a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.47%. Caterpillar’s dividend payout ratio (DPR) is currently 25.82%.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock valued at $14,509,306 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Caterpillar

A number of hedge funds have recently bought and sold shares of CAT. Southland Equity Partners LLC lifted its holdings in shares of Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 30 shares during the last quarter. Davis Investment Partners LLC lifted its holdings in shares of Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 30 shares during the last quarter. Exchange Capital Management Inc. increased its position in shares of Caterpillar by 3.3% in the 1st quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 32 shares during the period. McIlrath & Eck LLC increased its position in shares of Caterpillar by 4.4% in the 4th quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 33 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Caterpillar by 7.4% in the 1st quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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