Truist Financial Raises Caterpillar (NYSE:CAT) Price Target to $456.00

Caterpillar (NYSE:CAT) had its target price lifted by Truist Financial from $399.00 to $456.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Caterpillar from a buy rating to a hold rating in a report on Tuesday, September 24th. Citigroup began coverage on Caterpillar in a report on Wednesday, June 26th. They issued a buy rating and a $380.00 target price for the company. Barclays lifted their price target on Caterpillar from $315.00 to $335.00 and gave the company an equal weight rating in a report on Wednesday, August 7th. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an in-line rating for the company in a research note on Monday, August 19th. Finally, UBS Group upped their target price on Caterpillar from $270.00 to $285.00 and gave the company a sell rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $347.56.

Caterpillar Stock Performance

Shares of CAT opened at $402.02 on Wednesday. Caterpillar has a 12-month low of $223.76 and a 12-month high of $403.60. The stock has a market capitalization of $196.61 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.85 and a beta of 1.10. The firm’s 50 day moving average is $357.45 and its 200-day moving average is $349.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the company posted $5.55 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.40%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 7,668 shares of company stock worth $2,665,760 over the last 90 days. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several large investors have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in Caterpillar by 1.7% during the third quarter. Creative Planning now owns 227,915 shares of the industrial products company’s stock worth $89,142,000 after buying an additional 3,772 shares in the last quarter. CX Institutional lifted its holdings in shares of Caterpillar by 872.0% during the 3rd quarter. CX Institutional now owns 26,788 shares of the industrial products company’s stock worth $10,477,000 after acquiring an additional 24,032 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Caterpillar by 15.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,108 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 152 shares in the last quarter. Fiduciary Alliance LLC increased its stake in Caterpillar by 26.4% in the third quarter. Fiduciary Alliance LLC now owns 1,187 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 248 shares during the period. Finally, Empirical Asset Management LLC lifted its stake in Caterpillar by 3.4% during the third quarter. Empirical Asset Management LLC now owns 1,373 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 45 shares during the period. 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.