Caterpillar (NYSE:CAT) Price Target Raised to $383.00 at Barclays

Caterpillar (NYSE:CAT - Free Report) had its target price hoisted by Barclays from $335.00 to $383.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company's stock.

A number of other equities analysts also recently commented on the company. DA Davidson increased their price objective on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Bank of America increased their price objective on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Robert W. Baird increased their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, Evercore ISI dropped their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $419.33.

Caterpillar Trading Up 0.3%

NYSE CAT traded up $1.40 on Monday, hitting $428.99. 1,105,863 shares of the company were exchanged, compared to its average volume of 2,680,009. The company's 50 day moving average price is $373.81 and its 200-day moving average price is $350.94. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The firm has a market capitalization of $202.07 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.61 and a beta of 1.38. Caterpillar has a twelve month low of $267.30 and a twelve month high of $429.57.

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

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is currently 29.43%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CAT. Compass Financial Services Inc boosted its holdings in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at about $32,000. Investment Management Corp VA ADV bought a new position in shares of Caterpillar during the 4th quarter valued at about $33,000. Curat Global LLC bought a new position in shares of Caterpillar during the 1st quarter valued at about $33,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar during the 1st quarter valued at about $33,000. Institutional investors 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.