Analysts at Berenberg Bank started coverage on shares of Caterpillar (NYSE:CAT) in a report released on Thursday. The brokerage set a “buy” rating on the industrial products company’s stock.
Several other equities research analysts have also recently commented on the stock. Vetr raised shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 target price for the company in a research report on Monday. Bank of America reiterated a “buy” rating and issued a $189.00 price target (up from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. JPMorgan Chase & Co. upgraded shares of 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 note on Monday, January 8th. UBS Group set a $180.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Friday, January 5th. They noted that the move was a valuation call. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $195.00 price target (up from $165.00) on shares of Caterpillar in a research note on Thursday, January 4th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $148.24.
Shares of Caterpillar (NYSE CAT) opened at $168.50 on Thursday. Caterpillar has a 12-month low of $90.34 and a 12-month high of $173.24. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. The company has a market cap of $100,250.00, a PE ratio of 117.01, a PEG ratio of 2.09 and a beta of 1.29.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the company posted $0.85 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. research analysts predict that Caterpillar will post 6.46 earnings per share for the current year.
In other Caterpillar news, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $135.69, for a total transaction of $3,330,782.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the sale, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 acquiring an additional 2,377,623 shares during the period. FMR LLC grew 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 acquiring an additional 2,052,300 shares during the period. Jennison Associates LLC grew its stake in shares of Caterpillar by 140.9% in the third quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock worth $327,653,000 after acquiring an additional 1,536,470 shares during the period. Balyasny Asset Management LLC grew 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 acquiring an additional 1,216,053 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Caterpillar by 61.7% in the second quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock worth $268,768,000 after acquiring an additional 954,200 shares during the period. Institutional investors and hedge funds own 68.55% of the company’s stock.
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Caterpillar Company Profile
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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