Caterpillar (NYSE:CAT) Given New $300.00 Price Target at Robert W. Baird

Caterpillar (NYSE:CAT - Free Report) had its price target increased by Robert W. Baird from $299.00 to $300.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an underperform rating on the industrial products company's stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 7th. Bank of America upped their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Evercore ISI reduced their target price on shares of Caterpillar from $338.00 to $321.00 and set an "in-line" rating on the stock in a research report on Monday, August 19th. Finally, Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $357.56.

Caterpillar Trading Down 0.8 %

Caterpillar stock traded down $3.04 during mid-day trading on Thursday, reaching $376.20. 2,370,657 shares of the company traded hands, compared to its average volume of 2,628,922. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm's 50 day moving average price is $371.78 and its 200 day moving average price is $351.32. The firm has a market capitalization of $182.42 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar has a 52-week low of $223.76 and a 52-week high of $403.60.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analysts' expectations of $16.37 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.52 earnings per share. On average, analysts anticipate that Caterpillar will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio is currently 25.68%.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company's stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company's stock, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company's stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock valued at $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company's stock valued at $149,385,000 after buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock valued at $91,606,000 after buying an additional 266,969 shares in the last quarter. Swedbank AB purchased a new stake in Caterpillar during the 1st quarter valued at approximately $97,042,000. Finally, Capital International Investors grew its holdings in Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company's stock valued at $179,060,000 after buying an additional 244,253 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

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.