Equities researchers at Buckingham Research started coverage on shares of Caterpillar (NYSE:CAT) in a research note issued on Wednesday, April 11th, MarketBeat reports. The brokerage set a “buy” rating and a $170.00 price target on the industrial products company’s stock. Buckingham Research’s target price indicates a potential upside of 9.01% from the stock’s current price.
Several other equities analysts also recently issued reports on the company. Vetr raised Caterpillar from a “buy” rating to a “strong-buy” rating and set a $170.44 target price on the stock in a research report on Monday, February 5th. JPMorgan Chase raised Caterpillar from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $161.96 to $200.00 in a research report on Monday, January 8th. Citigroup increased their price target on Caterpillar from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st. Credit Suisse Group raised their target price on Caterpillar from $155.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Wells Fargo raised their target price on Caterpillar from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $171.95.
Shares of CAT opened at $155.95 on Wednesday. Caterpillar has a 12 month low of $92.98 and a 12 month high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. The firm has a market cap of $91,622.01, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. analysts forecast that Caterpillar will post 9.22 earnings per share for the current year.
In other Caterpillar news, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total value of $84,722.88. Following the completion of the transaction, the general counsel now owns 19,646 shares in the company, valued at $3,152,397.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the business. Jennison Associates LLC lifted its position in shares of Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after purchasing an additional 3,324,051 shares during the last quarter. BlackRock Inc. lifted its position in Caterpillar by 6.5% in the fourth quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after acquiring an additional 2,297,750 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Caterpillar in the fourth quarter valued at $148,604,000. CI Investments Inc. lifted its position in Caterpillar by 400,906.6% in the fourth quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock valued at $104,896,000 after acquiring an additional 665,505 shares during the last quarter. Finally, Fred Alger Management Inc. purchased a new stake in Caterpillar in the fourth quarter valued at $103,179,000. Institutional investors and hedge funds own 69.25% of the company’s stock.
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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