Caterpillar (NYSE:CAT) had its price objective upped by Credit Suisse Group from $155.00 to $192.00 in a note issued to investors on Friday, January 19th, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s price objective points to a potential upside of 21.47% from the stock’s previous close.
Several other equities analysts have also weighed in on CAT. ValuEngine lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Wells Fargo & Co set a $150.00 target price on shares of Caterpillar and gave the company a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. UBS Group set a $155.00 target price on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 25th. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 target price on the stock in a report on Thursday, October 19th. Finally, Bank of America set a $152.00 target price on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $167.60.
Shares of Caterpillar (CAT) traded up $4.09 during midday trading on Friday, reaching $158.06. 5,560,000 shares of the company traded hands, compared to its average volume of 6,970,000. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35. The stock has a market cap of $94,040.00, a PE ratio of 125.44, a PEG ratio of 1.63 and a beta of 1.22. Caterpillar has a one year low of $90.34 and a one year high of $173.24.
Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.39. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. Caterpillar’s revenue was up 34.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. research analysts anticipate that Caterpillar will post 9.05 earnings per share for the current fiscal year.
In other Caterpillar news, General Counsel Suzette M. Long sold 528 shares of the stock in a transaction that occurred 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 sale, the general counsel now directly owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the sale, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,331 shares of company stock worth $22,107,578. Insiders own 0.14% of the company’s stock.
Several large investors have recently made changes to their positions in CAT. Jennison Associates LLC grew its position in shares of Caterpillar by 126.5% in the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after buying an additional 3,324,051 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Caterpillar by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after buying an additional 2,377,623 shares during the last quarter. BlackRock Inc. grew its position in shares of Caterpillar by 6.5% in the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after buying an additional 2,297,750 shares during the last quarter. FMR LLC grew its position in shares of Caterpillar by 11.7% in the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the last quarter. Finally, Balyasny Asset Management LLC grew its position in shares of Caterpillar by 663.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after buying an additional 1,216,053 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.
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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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