BidaskClub Downgrades Caterpillar, Inc. (CAT) to Hold

BidaskClub downgraded shares of Caterpillar, Inc. (NYSE:CAT) from a buy rating to a hold rating in a research report sent to investors on Monday, July 24th.

Other equities analysts have also issued research reports about the company. UBS AG reaffirmed a neutral rating and issued a $102.00 price target (up previously from $98.00) on shares of Caterpillar in a research report on Friday, April 28th. Vetr lowered Caterpillar from a hold rating to a sell rating and set a $89.96 target price for the company. in a research report on Tuesday, March 28th. Axiom Securities reissued a sell rating on shares of Caterpillar in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) raised Caterpillar from a buy rating to a conviction-buy rating and set a $120.00 target price for the company in a research report on Tuesday, April 4th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $101.00 target price on shares of Caterpillar in a research report on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $107.15.

Shares of Caterpillar (NYSE:CAT) opened at 112.85 on Monday. The company has a market cap of $66.69 billion, a price-to-earnings ratio of 630.45 and a beta of 1.25. The stock has a 50 day moving average of $109.77 and a 200 day moving average of $101.19. Caterpillar has a 1-year low of $79.93 and a 1-year high of $115.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. Caterpillar’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, equities analysts forecast that Caterpillar will post $5.24 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, July 18th. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. Caterpillar’s payout ratio is currently 2,080.00%.

In related news, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,471 shares of company stock worth $22,979,332. 0.15% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Howe & Rusling Inc. boosted its position in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Caterpillar during the second quarter valued at about $104,000. Motco boosted its stake in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Caterpillar during the first quarter valued at about $107,000. Finally, Acrospire Investment Management LLC boosted its stake in shares of Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares during the period. 70.53% of the stock is currently owned by institutional investors.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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