Caterpillar’s (NYSE:CAT) “Outperform” Rating Reaffirmed at Credit Suisse Group

Caterpillar, Inc. (NYSE:CAT)‘s stock had its “outperform” rating restated by equities research analysts at Credit Suisse Group in a report released on Wednesday, October 18th. They currently have a $146.00 target price on the industrial products company’s stock, up from their prior target price of $133.00. Credit Suisse Group’s price objective would suggest a potential upside of 6.62% from the stock’s previous close.

Other research analysts have also issued reports about the company. TheStreet upgraded Caterpillar from a “c+” rating to a “b” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Friday, July 14th. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Deutsche Bank AG dropped their price objective on Caterpillar from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and an average price target of $133.70.

Caterpillar (CAT) opened at 136.94 on Wednesday. The firm has a market cap of $80.93 billion, a P/E ratio of 765.03 and a beta of 1.26. The stock’s 50 day moving average is $126.04 and its 200 day moving average is $111.66. Caterpillar has a one year low of $80.33 and a one year high of $140.44.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the company posted $0.85 earnings per share. Caterpillar’s revenue was up 24.6% on a year-over-year basis. On average, equities research analysts expect that Caterpillar will post $6.17 earnings per share for the current year.

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In other news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the sale, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in shares of Caterpillar by 10.6% during the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 128 shares during the period. Baker Ellis Asset Management LLC acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $104,000. Motco raised its position in Caterpillar by 264.9% in the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Caterpillar in the 1st quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC raised its position in Caterpillar by 900.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

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