Caterpillar (NYSE:CAT) Trading Up 2.3% on Analyst Upgrade

Caterpillar Inc. (NYSE:CAT - Get Free Report) rose 2.3% during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $285.00 to $295.00. UBS Group currently has a sell rating on the stock. Caterpillar traded as high as $386.07 and last traded at $385.12. Approximately 443,980 shares were traded during trading, a decline of 83% from the average daily volume of 2,609,759 shares. The stock had previously closed at $376.52.

Several other research analysts have also recently weighed in on 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 research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Morgan Stanley lowered Caterpillar from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Evercore ISI decreased 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $358.19.

Insider Buying and Selling

In other news, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares of the company's stock, valued at approximately $4,906,356.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the sale, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,792 shares of company stock worth $3,515,978 over the last 90 days. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently bought and sold shares of CAT. Bbjs Financial Advisors LLC purchased a new stake in shares of Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the second quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new position in Caterpillar in the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar during the third quarter worth approximately $36,000. Finally, POM Investment Strategies LLC increased its holdings in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock worth $38,000 after acquiring an additional 108 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

The stock has a market cap of $185.90 billion, a P/E ratio of 17.79, a PEG ratio of 1.86 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The company has a fifty day moving average of $372.91 and a 200 day moving average of $351.45.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $5.52 EPS. On average, equities analysts predict that Caterpillar Inc. will post 21.82 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar's payout ratio is presently 26.15%.

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.