Weekly Research Analysts’ Ratings Updates for Caterpillar (CAT)

Caterpillar (NYSE: CAT) recently received a number of ratings updates from brokerages and research firms:

• 10/31/2024 – Caterpillar had its price target raised by analysts at Robert W. Baird from $299.00 to $300.00. They now have an “underperform” rating on the stock.
• 10/31/2024 – Caterpillar had its price target lowered by analysts at Citigroup Inc. from $445.00 to $435.00. They now have a “buy” rating on the stock.
• 10/14/2024 – Caterpillar was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $332.00 price target on the stock, down previously from $349.00.
• 10/14/2024 – Caterpillar had its price target raised by analysts at JPMorgan Chase & Co. from $435.00 to $500.00. They now have an “overweight” rating on the stock.
• 10/9/2024 – Caterpillar had its price target raised by analysts at Citigroup Inc. from $380.00 to $445.00. They now have a “buy” rating on the stock.
• 10/9/2024 – Caterpillar had its price target raised by analysts at Truist Financial Co. from $399.00 to $456.00. They now have a “buy” rating on the stock.
• 9/30/2024 – Caterpillar had its price target raised by analysts at Bank of America Co. from $376.00 to $434.00. They now have a “buy” rating on the stock.
• 9/24/2024 – Caterpillar was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/13/2024 – Caterpillar was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/5/2024 – Caterpillar was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $379.63 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market cap of $184.08 billion, a P/E ratio of 17.60, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $232.88 and a 52 week high of $403.60. The company has a 50-day moving average price of $372.40 and a 200 day moving average price of $351.32.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during 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%. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.52 EPS. Research analysts predict that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. 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 1.49%. Caterpillar’s payout ratio is 26.15%.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CAT. Norden Group LLC purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $672,000. Jennison Associates LLC increased its stake in shares of Caterpillar by 26.4% during the 1st quarter. Jennison Associates LLC now owns 267,888 shares of the industrial products company’s stock worth $98,162,000 after purchasing an additional 55,935 shares in the last quarter. Patron Partners LLC purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $224,000. Central Pacific Bank Trust Division purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $379,000. Finally, Comprehensive Financial Consultants Institutional Inc. grew its stake in Caterpillar by 8.9% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 1,646 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 135 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

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.