Caterpillar (NYSE:CAT) had its price target upped by analysts at Wells Fargo & Co from $160.00 to $200.00 in a report issued on Thursday, January 18th. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Wells Fargo & Co’s target price indicates a potential upside of 34.04% from the stock’s previous close.
CAT has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective on the stock in a research report on Thursday, October 19th. Zacks Investment Research cut shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Argus boosted their price objective on shares of Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Bank of America restated a “buy” rating and issued a $189.00 price objective (up previously from $158.00) on shares of Caterpillar in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $167.80.
Shares of Caterpillar (NYSE:CAT) traded up $3.22 during trading hours on Thursday, reaching $149.21. 9,452,458 shares of the company were exchanged, compared to its average volume of 6,820,000. The stock has a market cap of $88,770.00, a PE ratio of 118.42, a PEG ratio of 1.60 and a beta of 1.22. Caterpillar has a one year low of $90.34 and a one year high of $173.24. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35.
Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm’s revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. equities research analysts predict that Caterpillar will post 9.05 EPS for the current fiscal year.
In other news, insider Jananne A. Copeland sold 3,247 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $136.95, for a total value of $444,676.65. Following the transaction, the insider now owns 8,908 shares in the company, valued at $1,219,950.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the transaction, the insider now owns 96,268 shares in the company, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. Insiders have sold 143,331 shares of company stock worth $22,107,578 in the last three months. 0.14% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CAT. Jennison Associates LLC lifted its stake in shares of Caterpillar by 126.5% in the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after buying an additional 3,324,051 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Caterpillar by 6.5% in the fourth quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after buying an additional 2,297,750 shares in the last quarter. FMR LLC lifted its stake in shares of Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after buying an additional 2,052,300 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its stake in shares of Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock worth $110,990,000 after buying an additional 1,216,053 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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