Caterpillar (NYSE:CAT) Price Target Lowered to $490.00 at JPMorgan Chase & Co.

Caterpillar (NYSE:CAT) had its price target reduced by JPMorgan Chase & Co. from $515.00 to $490.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the stock. Truist Financial decreased their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Citigroup decreased their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. UBS Group raised their price target on Caterpillar from $295.00 to $355.00 and gave the stock a “sell” rating in a research report on Tuesday. Morgan Stanley lowered their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price on the stock in a report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $380.13.

Caterpillar Trading Down 0.8 %

Shares of CAT stock opened at $371.88 on Friday. The business has a 50-day moving average price of $381.40 and a two-hundred day moving average price of $370.82. Caterpillar has a 12-month low of $299.93 and a 12-month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a market cap of $179.54 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Equities analysts anticipate that Caterpillar will post 21.71 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.52%. Caterpillar’s payout ratio is 26.15%.

Insiders Place Their Bets

In other news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares of the company’s stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the acquisition, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 32,900 shares of company stock worth $13,111,601. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Caterpillar in the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in Caterpillar during the fourth quarter valued at about $34,000. Kimelman & Baird LLC increased its position in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Albion Financial Group UT raised its stake in shares of Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares during the period. Finally, Trivant Custom Portfolio Group LLC grew its stake in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares during the period. Institutional investors own 70.98% of the company’s stock.

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.