Cleveland Research Reiterates “Hold” Rating for Caterpillar (CAT)

Cleveland Research restated their hold rating on shares of Caterpillar (NYSE:CAT) in a research report released on Thursday.

Other equities research analysts have also recently issued reports about the stock. Barclays assumed coverage on shares of Caterpillar in a report on Tuesday, December 12th. They issued an overweight rating and a $162.00 price target for the company. ValuEngine upgraded shares of Caterpillar from a hold rating to a buy rating in a report on Friday, February 2nd. Citigroup restated a neutral rating and issued a $185.00 price target (up from $160.00) on shares of Caterpillar in a report on Friday, January 19th. UBS raised their price target on shares of Caterpillar from $180.00 to $190.00 and gave the stock a buy rating in a report on Friday, January 26th. Finally, Argus raised their price target on shares of Caterpillar from $155.00 to $185.00 and gave the stock a hold rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $170.40.

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CAT opened at $142.99 on Thursday. Caterpillar has a twelve month low of $92.98 and a twelve 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 $85,454.54, a PE ratio of 20.78, a PEG ratio of 1.31 and a beta of 1.30.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. research analysts anticipate that Caterpillar will post 9.13 earnings per share for the current fiscal year.

In related news, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the transaction, the general counsel now directly owns 19,646 shares of the company’s stock, valued at $3,152,397.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of the firm’s stock in a transaction dated 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 transaction, 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. 0.14% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gradient Investments LLC bought a new position in shares of Caterpillar during the fourth quarter valued at about $113,000. Harvest Fund Management Co. Ltd bought a new position in shares of Caterpillar during the fourth quarter valued at about $131,000. Clearbridge LLC bought a new position in shares of Caterpillar during the fourth quarter valued at about $140,000. Aevitas Wealth Management Inc. bought a new position in shares of Caterpillar during the fourth quarter valued at about $143,000. Finally, Sandy Spring Bank lifted its position in shares of Caterpillar by 61.9% during the fourth quarter. Sandy Spring Bank now owns 981 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 375 shares in the last quarter. 69.24% of the stock is currently owned by institutional investors.

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Caterpillar Company Profile

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.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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