Caterpillar (NYSE:CAT) Price Target Increased to $435.00 by Analysts at JPMorgan Chase & Co.

Caterpillar (NYSE:CAT) had its price objective raised by JPMorgan Chase & Co. from $385.00 to $435.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

CAT has been the topic of a number of other research reports. Citigroup lifted their price target on Caterpillar from $255.00 to $340.00 and gave the company a neutral rating in a report on Monday, February 12th. Morgan Stanley started coverage on Caterpillar in a research report on Monday, January 8th. They set an equal weight rating and a $270.00 price objective for the company. StockNews.com cut Caterpillar from a strong-buy rating to a buy rating in a research report on Tuesday, February 20th. Sanford C. Bernstein lifted their price objective on Caterpillar from $216.00 to $245.00 and gave the company a market perform rating in a research report on Thursday, December 21st. Finally, Truist Financial assumed coverage on Caterpillar in a research report on Thursday, March 14th. They set a buy rating and a $390.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $307.56.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $357.93 on Tuesday. Caterpillar has a 52-week low of $204.04 and a 52-week high of $382.01. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $178.75 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.60 and a beta of 1.17. The stock’s fifty day simple moving average is $345.95 and its 200 day simple moving average is $297.21.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter in the previous year, the company posted $3.86 earnings per share. Caterpillar’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Caterpillar will post 21.33 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio is presently 25.82%.

Insider Buying and Selling

In related news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David Maclennan purchased 350 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the purchase, the director now directly owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,769 shares of company stock valued at $14,509,306. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAT. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar in the 1st quarter valued at approximately $27,000. Aspect Partners LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $25,000. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Finally, Vima LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $30,000. 70.98% of the stock is currently owned by 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.