Citigroup upgraded shares of Caterpillar (NYSE:CAT) to an outperform rating in a research note issued to investors on Friday, September 21st, The Fly reports.

Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Caterpillar from a hold rating to a buy rating and set a $155.00 price target for the company in a research report on Tuesday, July 17th. Goldman Sachs Group cut Caterpillar from a conviction-buy rating to a buy rating in a research report on Monday, July 16th. UBS Group upped their price target on Caterpillar from $178.00 to $185.00 and gave the stock a buy rating in a research report on Thursday, June 14th. Morgan Stanley increased their target price on Caterpillar from $185.00 to $187.00 and gave the stock a buy rating in a research report on Tuesday, July 31st. Finally, Argus cut their target price on Caterpillar from $185.00 to $165.00 and set a buy rating for the company in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $171.08.

CAT traded up $1.10 during midday trading on Friday, reaching $142.07. The company had a trading volume of 5,580,086 shares, compared to its average volume of 5,137,398. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.59. The stock has a market cap of $90.63 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.84 and a beta of 1.37. Caterpillar has a 1 year low of $129.20 and a 1 year high of $173.24.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.24. The business had revenue of $14.01 billion during the quarter, compared to analysts’ expectations of $14.09 billion. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. On average, equities analysts anticipate that Caterpillar will post 11.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, October 19th. Caterpillar’s dividend payout ratio is presently 50.00%.

In other news, insider Denise C. Johnson sold 35,051 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now directly owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

Several large investors have recently bought and sold shares of CAT. Cornerstone Wealth Management LLC lifted its stake in shares of Caterpillar by 13,856.0% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,253,525 shares of the industrial products company’s stock valued at $9,194,000 after purchasing an additional 1,244,543 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Caterpillar by 870.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,129,502 shares of the industrial products company’s stock worth $7,679,000 after acquiring an additional 1,013,117 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $68,531,000. Summit Trail Advisors LLC lifted its stake in shares of Caterpillar by 15,223.3% during the 1st quarter. Summit Trail Advisors LLC now owns 444,377 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 441,477 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Caterpillar by 56.5% during the 1st quarter. Schroder Investment Management Group now owns 1,205,842 shares of the industrial products company’s stock worth $177,717,000 after acquiring an additional 435,362 shares during the last quarter. 66.63% of the stock is owned by institutional investors and hedge funds.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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