Caterpillar (CAT) PT Set at $178.00 by UBS
UBS set a $178.00 price objective on Caterpillar (NYSE:CAT) in a research note issued to investors on Wednesday, www.stocktargetadvisor.com reports. The brokerage currently has a buy rating on the industrial products company’s stock.
Other equities research analysts also recently issued reports about the company. ValuEngine upgraded Caterpillar from a hold rating to a buy rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Caterpillar from a sell rating to a hold rating in a research note on Monday, April 9th. Citigroup restated a neutral rating and set a $185.00 price target (up from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. Argus boosted their price target on Caterpillar from $155.00 to $185.00 and gave the company a hold rating in a research note on Thursday, February 1st. Finally, Buckingham Research assumed coverage on Caterpillar in a research note on Wednesday, April 11th. They set a buy rating and a $170.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Caterpillar currently has an average rating of Buy and an average target price of $172.86.
Shares of NYSE:CAT opened at $144.72 on Wednesday. Caterpillar has a fifty-two week low of $97.74 and a fifty-two week high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $87,486.03, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.03 and a beta of 1.30.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 19th. Investors of record on Monday, April 23rd will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, April 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.16%. Caterpillar’s dividend payout ratio (DPR) is presently 45.35%.
In related news, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the transaction, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total value of $15,526,004.91. Following the transaction, the insider now owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CAT. Jennison Associates LLC boosted its stake in Caterpillar by 126.5% in the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after purchasing an additional 3,324,051 shares during the period. BlackRock Inc. boosted its stake in Caterpillar by 6.5% in the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after purchasing an additional 2,297,750 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Caterpillar in the 4th quarter worth approximately $148,604,000. CI Investments Inc. boosted its stake in Caterpillar by 400,906.6% in the 4th quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock worth $104,896,000 after purchasing an additional 665,505 shares during the period. Finally, Fred Alger Management Inc. bought a new position in Caterpillar in the 4th quarter worth approximately $103,179,000. Institutional investors and hedge funds own 69.23% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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