Caterpillar, Inc. (NYSE:CAT) had its price target raised by stock analysts at Citigroup Inc. from $133.00 to $145.00 in a report issued on Wednesday, October 25th. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 6.24% from the company’s current price.
A number of other research analysts also recently issued reports on the company. BidaskClub raised Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Seaport Global Securities started coverage on Caterpillar in a report on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 price target for the company. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a research note on Wednesday, July 26th. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 target price for the company. in a research note on Tuesday, August 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $146.00 target price (up from $133.00) on shares of Caterpillar in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $133.76.
Shares of Caterpillar (NYSE:CAT) traded up $1.14 during mid-day trading on Wednesday, hitting $136.48. The stock had a trading volume of 2,017,600 shares, compared to its average volume of 4,466,164. Caterpillar has a 1-year low of $90.34 and a 1-year high of $140.44. The stock has a market capitalization of $80,518.32, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue was up 24.6% compared to the same quarter last year. equities analysts expect that Caterpillar will post 6.4 earnings per share for the current year.
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In other news, insider Lange Bob De sold 1,572 shares of the firm’s 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 completion of the sale, the insider now directly owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel M. Dickinson sold 3,813 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the sale, the director now directly 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 modified their holdings of the stock. Baker Ellis Asset Management LLC acquired a new position in Caterpillar during the second quarter worth $104,000. Motco raised its holdings in Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 718 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 900 shares during the last quarter. Reilly Financial Advisors LLC raised its holdings in shares of Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 535 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Caterpillar in the first quarter worth $107,000. 69.41% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
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