Caterpillar (NYSE:CAT – Get Free Report) issued its earnings results on Thursday. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48, reports. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion.
Caterpillar Stock Up 1.6 %
NYSE CAT traded up $5.38 during trading hours on Friday, hitting $343.38. 3,324,630 shares of the company were exchanged, compared to its average volume of 2,414,735. The company has a 50 day moving average of $350.10 and a two-hundred day moving average of $300.99. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The firm has a market cap of $171.48 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.53 and a beta of 1.17. Caterpillar has a 52-week low of $204.04 and a 52-week high of $382.01.
Caterpillar Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.51%. Caterpillar’s dividend payout ratio (DPR) is 23.48%.
Insider Activity
Hedge Funds Weigh In On Caterpillar
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Investment Management Inc. purchased a new stake in Caterpillar in the first quarter valued at $27,000. Partnership Wealth Management LLC purchased a new position in shares of Caterpillar during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar in the 4th quarter valued at $27,000. Vima LLC purchased a new stake in Caterpillar in the 4th quarter valued at $30,000. Finally, Gilfoyle & Co LLC acquired a new stake in Caterpillar during the 4th quarter worth $30,000. 70.98% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on CAT shares. TD Cowen boosted their price objective on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. The Goldman Sachs Group upped their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. Finally, Morgan Stanley began coverage on shares of Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $310.83.
View Our Latest Stock Analysis on Caterpillar
About Caterpillar
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.
See Also
- Five stocks we like better than Caterpillar
- What is Short Interest? How to Use It
- MarketBeat Week in Review – 4/22 – 4/26
- The “How” and “Why” of Investing in 5G Stocks
- 3 Stocks Leading the U.S. Agriculture Comeback
- How Can Investors Benefit From After-Hours Trading
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.