Stifel Nicolaus Reiterates Hold Rating for Caterpillar, Inc. (NYSE:CAT)

Stifel Nicolaus restated their hold rating on shares of Caterpillar, Inc. (NYSE:CAT) in a report released on Sunday, July 30th. Stifel Nicolaus currently has a $125.00 target price on the industrial products company’s stock.

Several other equities research analysts also recently issued reports on the stock. Bank of America Corporation reiterated a buy rating and set a $135.00 price objective (up from $120.00) on shares of Caterpillar in a research note on Thursday, July 27th. TheStreet raised shares of Caterpillar from a c+ rating to a b rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $123.00 target price on shares of Caterpillar and gave the stock a buy rating in a research report on Tuesday, July 25th. Citigroup Inc. boosted their target price on shares of Caterpillar from $115.00 to $125.00 and gave the stock a neutral rating in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $120.00 price target (up from $100.00) on shares of Caterpillar in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Caterpillar has a consensus rating of Hold and an average target price of $107.15.

Shares of Caterpillar (NYSE:CAT) opened at 113.92 on Friday. Caterpillar has a 12-month low of $79.93 and a 12-month high of $115.46. The firm has a market capitalization of $67.32 billion, a price-to-earnings ratio of 636.42 and a beta of 1.25. The firm’s 50-day moving average is $111.03 and its 200-day moving average is $101.77.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. Caterpillar’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Caterpillar will post $5.24 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Tuesday, July 18th. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.

In related news, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. FMR LLC boosted its position in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after buying an additional 2,052,300 shares in the last quarter. Morgan Stanley raised its stake in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares during the last quarter. 70.27% of the stock is owned by institutional investors.

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