Caterpillar Inc. (NYSE:CAT) – Equities researchers at Oppenheimer increased their Q3 2020 earnings per share estimates for shares of Caterpillar in a note issued to investors on Wednesday, October 21st. Oppenheimer analyst N. Kaye now expects that the industrial products company will post earnings of $1.11 per share for the quarter, up from their previous forecast of $0.95. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Caterpillar’s FY2020 earnings at $5.01 EPS.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Friday, July 31st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.37. Caterpillar had a net margin of 8.90% and a return on equity of 30.52%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same period last year, the firm earned $2.83 EPS. The company’s revenue for the quarter was down 30.7% on a year-over-year basis.
A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company upgraded shares of Caterpillar from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $220.00 in a research report on Friday, October 16th. BofA Securities upgraded Caterpillar from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 8th. Cfra upgraded Caterpillar to a “buy” rating in a research report on Thursday, July 16th. Morgan Stanley lifted their price objective on Caterpillar from $111.00 to $120.00 and gave the stock an “underweight” rating in a research report on Monday, October 12th. Finally, Bank of America upgraded Caterpillar from an “underperform” rating to a “neutral” rating and set a $135.00 price objective for the company in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $145.37.
CAT stock opened at $168.59 on Friday. The firm has a 50 day moving average of $154.07 and a 200-day moving average of $133.29. Caterpillar has a 12-month low of $87.50 and a 12-month high of $171.26. The company has a current ratio of 1.50, a quick ratio of 1.05 and a debt-to-equity ratio of 1.95. The company has a market cap of $91.29 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 2.67 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, October 26th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, October 23rd. This represents a $4.12 annualized dividend and a dividend yield of 2.44%. Caterpillar’s dividend payout ratio is presently 37.25%.
In other news, insider Lange Bob De sold 1,575 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $147.00, for a total transaction of $231,525.00. Following the completion of the sale, the insider now directly owns 30,798 shares of the company’s stock, valued at approximately $4,527,306. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in CAT. Public Employees Retirement Association of Colorado boosted its position in Caterpillar by 3.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,786 shares of the industrial products company’s stock worth $12,159,000 after purchasing an additional 3,189 shares during the period. Integrated Wealth Concepts LLC boosted its position in Caterpillar by 17.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,324 shares of the industrial products company’s stock worth $618,000 after purchasing an additional 777 shares during the period. APG Asset Management N.V. boosted its position in Caterpillar by 34.5% during the 1st quarter. APG Asset Management N.V. now owns 955,153 shares of the industrial products company’s stock worth $110,836,000 after purchasing an additional 244,949 shares during the period. Clearbridge Investments LLC boosted its position in Caterpillar by 4.4% during the 1st quarter. Clearbridge Investments LLC now owns 4,833 shares of the industrial products company’s stock worth $561,000 after purchasing an additional 204 shares during the period. Finally, FDx Advisors Inc. purchased a new stake in Caterpillar during the 1st quarter worth $7,169,000. 66.19% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
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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