Caterpillar (NYSE:CAT) Price Target Increased to $340.00 by Analysts at TD Cowen

Caterpillar (NYSE:CAT - Free Report) had its target price raised by TD Cowen from $338.00 to $340.00 in a research report sent to investors on Friday morning, MarketBeat reports. TD Cowen currently has a buy rating on the industrial products company's stock.

Several other brokerages have also weighed in on CAT. The Goldman Sachs Group lifted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Stifel Nicolaus lowered shares of Caterpillar from a buy rating to a hold rating and boosted their price target for the company from $293.00 to $350.00 in a research report on Friday. Oppenheimer restated a market perform rating on shares of Caterpillar in a research report on Thursday, April 18th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Finally, Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They issued a buy rating and a $390.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of Hold and a consensus target price of $310.83.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $5.37 on Friday, hitting $343.37. 3,324,221 shares of the company were exchanged, compared to its average volume of 2,496,459. The company's 50 day moving average price is $350.10 and its two-hundred day moving average price is $300.80. Caterpillar has a one year low of $204.04 and a one year high of $382.01. 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 firm has a market capitalization of $171.48 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.62 and a beta of 1.17.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Research analysts expect that Caterpillar will post 21.3 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar's payout ratio is presently 25.82%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David Maclennan purchased 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The stock was bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now directly owns 5,238 shares of the company's stock, valued at $1,693,812.06. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the transaction, the chief financial officer now owns 57,317 shares of the company's stock, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,769 shares of company stock valued at $11,508,906. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its holdings in Caterpillar by 8.4% during the third quarter. Handelsbanken Fonder AB now owns 135,422 shares of the industrial products company's stock worth $36,970,000 after purchasing an additional 10,476 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Caterpillar by 5.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,856 shares of the industrial products company's stock worth $507,000 after purchasing an additional 103 shares during the last quarter. Connecticut Wealth Management LLC acquired a new position in Caterpillar during the third quarter worth $393,000. Ballentine Partners LLC lifted its stake in Caterpillar by 2.9% in the third quarter. Ballentine Partners LLC now owns 5,786 shares of the industrial products company's stock valued at $1,580,000 after acquiring an additional 165 shares during the last quarter. Finally, TFG Advisers LLC lifted its stake in Caterpillar by 6.5% in the third quarter. TFG Advisers LLC now owns 1,660 shares of the industrial products company's stock valued at $453,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds 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.