Caterpillar (NYSE:CAT) Price Target Lowered to $164.00 at Credit Suisse Group

Caterpillar (NYSE:CAT) had its target price decreased by Credit Suisse Group from $172.00 to $164.00 in a research report report published on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the industrial products company’s stock.

CAT has been the topic of several other research reports. Morgan Stanley set a $165.00 price objective on Caterpillar and gave the company a buy rating in a report on Wednesday, April 10th. Zacks Investment Research downgraded GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. Deutsche Bank cut their price objective on Trinseo from $58.00 to $55.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Bank of America set a $152.00 price objective on Caterpillar and gave the company a buy rating in a report on Thursday, April 4th. Finally, UBS Group cut their price objective on Caterpillar from $125.00 to $115.00 and set a sell rating on the stock in a report on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $144.94.

Shares of CAT stock opened at $136.23 on Wednesday. The firm has a fifty day simple moving average of $131.36. The firm has a market cap of $77.91 billion, a P/E ratio of 12.14, a PEG ratio of 0.93 and a beta of 1.54. Caterpillar has a fifty-two week low of $112.06 and a fifty-two week high of $159.37. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.43.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.10. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter last year, the business posted $2.82 EPS. Caterpillar’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Caterpillar will post 12.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 annualized dividend and a yield of 3.02%. Caterpillar’s payout ratio is presently 30.66%.

A number of institutional investors and hedge funds have recently made changes to their positions in CAT. Weiss Asset Management LP bought a new position in shares of Caterpillar in the 1st quarter worth about $200,000. Tufton Capital Management raised its position in shares of Caterpillar by 1.2% in the 1st quarter. Tufton Capital Management now owns 66,628 shares of the industrial products company’s stock worth $9,027,000 after acquiring an additional 787 shares in the last quarter. Lehman & Derafelo Financial Resources LLC bought a new position in shares of Caterpillar in the 4th quarter worth about $305,000. Physicians Financial Services Inc. raised its position in shares of Caterpillar by 11.9% in the 1st quarter. Physicians Financial Services Inc. now owns 17,855 shares of the industrial products company’s stock worth $2,419,000 after acquiring an additional 1,895 shares in the last quarter. Finally, Financial Counselors Inc. raised its position in shares of Caterpillar by 11.3% in the 1st quarter. Financial Counselors Inc. now owns 145,766 shares of the industrial products company’s stock worth $19,750,000 after acquiring an additional 14,774 shares in the last quarter. 65.45% of the stock is currently owned by hedge funds and other institutional investors.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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