Caterpillar (NYSE:CAT) Price Target Raised to $475.00 at JPMorgan Chase & Co.

Caterpillar (NYSE:CAT - Free Report) had its price objective increased by JPMorgan Chase & Co. from $395.00 to $475.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

Several other analysts have also weighed in on CAT. Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Citigroup reiterated a "buy" rating and set a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Evercore ISI lowered their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Finally, UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $404.64.

Caterpillar Stock Down 1.0%

Shares of NYSE:CAT traded down $4.07 during midday trading on Thursday, reaching $404.26. The company had a trading volume of 598,884 shares, compared to its average volume of 2,526,395. 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 stock's fifty day moving average price is $359.15 and its 200-day moving average price is $347.93. The stock has a market capitalization of $190.43 billion, a P/E ratio of 19.70, a PEG ratio of 2.67 and a beta of 1.38. Caterpillar has a one year low of $267.30 and a one year high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $5.60 EPS. Equities research analysts expect 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. 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 represents a $6.04 annualized dividend and a yield of 1.49%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is presently 29.43%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC lifted its stake in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock worth $805,000 after purchasing an additional 614 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Caterpillar by 11.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,294 shares of the industrial products company's stock worth $1,558,000 after purchasing an additional 458 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Caterpillar by 4.0% in the fourth quarter. Farther Finance Advisors LLC now owns 8,362 shares of the industrial products company's stock worth $3,033,000 after purchasing an additional 318 shares in the last quarter. Institutional investors and hedge funds 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.