Caterpillar (NYSE:CAT) Stock Price Expected to Rise, DA Davidson Analyst Says

Caterpillar (NYSE:CAT - Free Report) had its target price raised by DA Davidson from $331.00 to $388.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company's stock.

Several other equities research analysts also recently weighed in on the company. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Evercore ISI decreased their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Finally, Barclays increased their price objective on Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Caterpillar Stock Up 1.1%

CAT traded up $4.55 on Tuesday, reaching $434.07. The company's stock had a trading volume of 2,207,744 shares, compared to its average volume of 2,686,829. The stock has a 50 day moving average of $375.41 and a two-hundred day moving average of $351.40. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $204.47 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.68 and a beta of 1.38. Caterpillar has a fifty-two week low of $267.30 and a fifty-two week high of $434.87.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) 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%. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $5.60 earnings per share. As a group, analysts forecast that Caterpillar will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.39%. Caterpillar's dividend payout ratio is presently 29.43%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Compass Financial Services Inc increased its position in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after buying an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar in the second quarter valued at $32,000. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar in the fourth quarter valued at $33,000. Curat Global LLC purchased a new position in shares of Caterpillar in the first quarter valued at $33,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar in the first quarter valued at $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Company Profile

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.