Caterpillar Inc. (CAT) Receives $144.89 Average Target Price from Analysts

Caterpillar Inc. (NYSE:CAT) has been assigned a consensus recommendation of “Hold” from the twenty-eight ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $144.89.

CAT has been the topic of several research analyst reports. Credit Suisse Group cut their price objective on Caterpillar from $183.00 to $173.00 and set an “outperform” rating on the stock in a report on Friday, January 18th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a report on Thursday, January 24th. JPMorgan Chase & Co. restated a “buy” rating and set a $188.00 price target on shares of Caterpillar in a report on Monday, January 28th. ValuEngine downgraded Caterpillar from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Royal Bank of Canada cut their price target on Caterpillar from $142.00 to $140.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 29th. They noted that the move was a valuation call.

CAT stock opened at $133.67 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $79.53 billion, a P/E ratio of 11.91, a PEG ratio of 0.92 and a beta of 1.45. Caterpillar has a 12-month low of $112.06 and a 12-month high of $161.60.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.10. The firm had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.36 billion. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. On average, research analysts expect that Caterpillar will post 12.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. Caterpillar’s dividend payout ratio is presently 30.66%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc increased its holdings in shares of Caterpillar by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 49,811,616 shares of the industrial products company’s stock valued at $7,595,773,000 after acquiring an additional 534,451 shares during the last quarter. BlackRock Inc. boosted its position in shares of Caterpillar by 1.5% in the 4th quarter. BlackRock Inc. now owns 35,985,874 shares of the industrial products company’s stock valued at $4,572,725,000 after purchasing an additional 529,926 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Caterpillar by 6,835.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 8,923,946 shares during the period. Northern Trust Corp boosted its position in shares of Caterpillar by 1.9% in the 4th quarter. Northern Trust Corp now owns 7,379,026 shares of the industrial products company’s stock valued at $937,652,000 after purchasing an additional 134,479 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Caterpillar by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock valued at $890,658,000 after purchasing an additional 321,277 shares during the period. Institutional investors and hedge funds own 67.80% of the company’s stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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