Goldman Sachs upgraded Caterpillar Inc. (NYSE:CAT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in Caterpillar by 25.6% in the fourth quarter.
Norway Savings Bank boosted its position in shares of Caterpillar, Inc. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company's stock worth $26,746,000 after buying an additional 106,270 shares in the last quarter. Raymond James Financial, Inc. upgraded Caterpillar to a "buy" rating and set a $55.00 target price on the stock in a report on Thursday, April 27th. Financial Architects Inc now owns 1,215 shares of the industrial products company's stock valued at $113,000 after buying an additional 65 shares in the last quarter. Flinton Capital Management LLC bought a new position in Caterpillar during the fourth quarter valued at $444,000. Trust Investment Advisors increased its position in shares of Caterpillar by 0.3% in the first quarter. The fund owned 833,243 shares of the industrial products company's stock after buying an additional 8,010 shares during the period. Bingham Osborn & Scarborough LLC now owns 2,303 shares of the industrial products company's stock worth $214,000 after buying an additional 9 shares during the period.
First Personal Financial Services increased its stake in Caterpillar, Inc. (CAT) were valued at $108.77 and moved 0.28% as of a recent closing trade. The firm has a 50-day moving average of $104.38 and a 200 day moving average of $97.66.
Caterpillar, Inc. has a 52 week low of $73.46 and a 52 week high of $109.36. The firm's market capitalization is $64.08 billion.
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Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.62 by $0.66. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.27 billion.
The stock has a Return on Assets of -0.2 percent, Return on Investment of 0.6 percent and a Return on Equity of -1 percent. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. Equities research analysts predict that Caterpillar, Inc. will post $4.20 EPS for the current fiscal year.
Additionally Caterpillar, Inc. recently announced a dividend for shareholders to be paid on Saturday the 19th of August 2017. Stockholders of record on Thursday, July 20th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, July 18th. This is a boost from Caterpillar's previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a dividend yield of 2.87%. Caterpillar's payout ratio is -1,140.70%. If you are viewing this report on another website, it was illegally stolen and reposted in violation of USA and worldwide trademark and copyright law. The legal version of this report can be read at https://www.themarketsdaily.com/2017/07/16/caterpillar-inc-nysecat-pt-lowered-to-105-00-updated.html.
Several research analysts have issued reports on CAT shares. Finally, Vetr cut shares of Caterpillar from a "sell" rating to a "strong sell" rating and set a $86.90 price objective for the company.in a research report on Tuesday, April 25th. UBS AG reissued a "neutral" rating and set a $102.00 price objective (up from $98.00) on shares of Caterpillar in a report on Friday, April 28th. Axiom Securities reissued a "sell" rating on shares of Caterpillar in a report on Tuesday, June 6th. Credit Suisse Group set a $111.00 target price on Caterpillar and gave the company a "buy" rating in a research report on Monday, March 20th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. The company has a consensus rating of "Hold" and a consensus target price of $97.72. (NYSE:CAT). Canada Pension Plan Invest Board holds 0.04% in Caterpillar Inc.