Argus Increases Caterpillar, Inc. (CAT) Price Target to $155.00

Caterpillar, Inc. (NYSE:CAT) had its price target raised by investment analysts at Argus from $130.00 to $155.00 in a research note issued to investors on Thursday, October 26th, Marketbeat Ratings reports. The firm currently has a “buy” rating on the industrial products company’s stock. Argus’ target price suggests a potential upside of 13.57% from the stock’s previous close.

Several other research analysts have also commented on CAT. Credit Suisse Group reissued a “buy” rating and issued a $123.00 price target on shares of Caterpillar in a research report on Wednesday, June 28th. BidaskClub upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG dropped their target price on Caterpillar from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research note on Thursday, July 13th. Finally, Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $133.92.

Caterpillar (NYSE:CAT) opened at $136.48 on Thursday. The firm has a market capitalization of $81,196.54, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. Caterpillar has a 1-year low of $90.34 and a 1-year high of $140.44.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. Caterpillar’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. equities research analysts expect that Caterpillar will post 6.4 earnings per share for the current fiscal year.

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In other Caterpillar news, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the sale, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $137.09, for a total transaction of $522,724.17. Following the sale, the director now owns 6,554 shares of the company’s stock, valued at $898,487.86. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $104,000. Motco lifted its position in shares of Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 718 shares during the period. Acrospire Investment Management LLC lifted its position in shares of Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 900 shares during the period. Reilly Financial Advisors LLC lifted its position in shares of Caterpillar by 92.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 535 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Caterpillar during the 1st quarter valued at approximately $107,000. Institutional investors own 69.38% of the company’s stock.

Caterpillar Company Profile

Analyst Recommendations for Caterpillar (NYSE:CAT)

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