Caterpillar (NYSE:CAT – Free Report) had its price objective boosted by Sanford C. Bernstein from $304.00 to $432.00 in a research note issued to investors on Monday,BayStreet.CA reports.

CAT has been the topic of a number of other research reports. Bank of America boosted their price target on Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Robert W. Baird boosted their price target on Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Evercore ISI lowered their target price on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research note on Monday, May 19th. Finally, Truist Financial upped their price objective on Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Seven investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $406.47.

Check Out Our Latest Stock Analysis on Caterpillar

Caterpillar Price Performance

NYSE:CAT opened at $405.90 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The stock’s 50-day simple moving average is $362.45 and its 200 day simple moving average is $348.21. The company has a market cap of $191.20 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.70 and a beta of 1.38. Caterpillar has a 52-week low of $267.30 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT – Get Free Report) last released its 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 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 was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.60 EPS. As a group, sell-side analysts forecast that Caterpillar will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.49%. Caterpillar’s payout ratio is presently 29.43%.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Large investors have recently modified their holdings of the business. Flagship Wealth Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at approximately $26,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $27,000. Compass Financial Services Inc lifted its holdings in shares of 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 purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the second quarter worth $32,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of Caterpillar during the fourth quarter worth $33,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Company Profile

(Get Free Report)

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.

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