Today, Caterpillar Inc. (CAT) Upgraded to “Buy” at Goldman Sachs Group Inc.

Today, Caterpillar Inc. (CAT) Upgraded to “Buy” at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. upgraded shares of Caterpillar Inc. (NYSE:CAT) from a neutral rating to a buy rating in a research note released on Tuesday. They currently have $112.00 price target on the stock, up from their prior price target of $76.00.

Several other analysts also recently weighed in on the company. Vetr upgraded Caterpillar from a sell rating to a hold rating and set a $88.01 price target on the stock in a research note on Thursday, October 6th. Zacks Investment Research cut Caterpillar from a buy rating to a hold rating in a research report on Tuesday, October 4th. Bank of America Corp. reaffirmed a hold rating and issued a $92.00 price objective on shares of Caterpillar in a research report on Monday, October 3rd. Credit Suisse Group AG set a $90.00 price objective on Caterpillar and gave the company a buy rating in a research report on Wednesday, September 28th. Finally, Jefferies Group reaffirmed a hold rating and issued a $72.00 price objective on shares of Caterpillar in a research report on Thursday, September 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $76.48.

Caterpillar (NYSE:CAT) opened at 87.67 on Tuesday. The stock has a market capitalization of $51.22 billion, a PE ratio of 58.45 and a beta of 1.54. The stock has a 50 day moving average price of $84.36 and a 200 day moving average price of $79.01. Caterpillar has a 12 month low of $56.36 and a 12 month high of $89.87.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.13. The company had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. On average, equities research analysts forecast that Caterpillar will post $3.50 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Investors of record on Monday, October 24th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, October 20th. Caterpillar’s payout ratio is 165.59%.

In other news, Director Dennis A. Muilenburg acquired 1,930 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was acquired at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the company. American Money Management LLC increased its stake in shares of Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock valued at $291,000 after buying an additional 11 shares during the last quarter. Pitcairn Co. increased its stake in shares of Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock valued at $250,000 after buying an additional 14 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in shares of Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares during the last quarter. Sabal Trust CO increased its stake in shares of Caterpillar by 0.7% in the second quarter. Sabal Trust CO now owns 4,128 shares of the company’s stock valued at $313,000 after buying an additional 28 shares during the last quarter. Finally, St. Johns Investment Management Company LLC increased its stake in shares of Caterpillar by 0.5% in the second quarter. St. Johns Investment Management Company LLC now owns 7,643 shares of the company’s stock valued at $579,000 after buying an additional 36 shares during the last quarter. 68.99% of the stock is owned by institutional investors and hedge funds.

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