Caterpillar Inc. (NYSE:CAT) Receives $380.83 Average Price Target from Analysts

Caterpillar Inc. (NYSE:CAT - Get Free Report) has received an average recommendation of "Moderate Buy" from the fifteen analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $380.83.

CAT has been the topic of several research analyst reports. Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a report on Thursday, May 1st. Bank of America boosted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Evercore ISI dropped their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Finally, Citigroup restated a "buy" rating and set a $420.00 price target (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th.

Caterpillar Trading Up 0.2%

Shares of Caterpillar stock traded up $0.90 during mid-day trading on Thursday, hitting $399.33. The stock had a trading volume of 1,737,838 shares, compared to its average volume of 2,523,847. The firm has a 50-day moving average of $351.96 and a two-hundred day moving average of $346.95. The firm has a market cap of $188.10 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. Caterpillar has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter in the previous year, the company posted $5.60 earnings per share. The company's revenue was down 9.8% on a year-over-year basis. Sell-side analysts forecast that Caterpillar will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.51%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Institutional Trading of Caterpillar

Large investors have recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in shares of Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after purchasing an additional 614 shares in the last quarter. Victrix Investment Advisors purchased a new position in Caterpillar in the fourth quarter valued at $2,090,000. Pacific Point Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at $579,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after buying an additional 30,070 shares during the last quarter. Finally, Brighton Jones LLC raised its position in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other 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.