Caterpillar (NYSE:CAT) had its target price raised by research analysts at Goldman Sachs Group from $130.00 to $156.00 in a report released on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Goldman Sachs Group’s target price suggests a potential upside of 5.29% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Robert W. Baird raised their price objective on Caterpillar from $141.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Co cut Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price objective on the stock. in a report on Wednesday, September 11th. Bank of America raised their price objective on Caterpillar from $154.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group decreased their price objective on Caterpillar to $110.00 and set a “sell” rating on the stock in a report on Thursday, October 24th. Finally, Stephens started coverage on Caterpillar in a report on Wednesday, August 14th. They set an “underweight” rating and a $100.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $138.76.
Shares of CAT stock traded up $1.15 during mid-day trading on Friday, hitting $148.16. 2,741,147 shares of the company’s stock were exchanged, compared to its average volume of 4,852,125. Caterpillar has a fifty-two week low of $111.75 and a fifty-two week high of $148.40. The stock has a 50-day simple moving average of $131.31 and a two-hundred day simple moving average of $129.06. The company has a quick ratio of 0.99, a current ratio of 1.44 and a debt-to-equity ratio of 1.71. The stock has a market cap of $80.89 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.54 and a beta of 1.53.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The business had revenue of $12.76 billion for the quarter, compared to analyst estimates of $13.49 billion. During the same quarter last year, the business earned $2.86 EPS. Caterpillar’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts anticipate that Caterpillar will post 10.89 earnings per share for the current fiscal year.
In other Caterpillar news, insider Denise C. Johnson sold 14,777 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $140.00, for a total value of $2,068,780.00. Following the transaction, the insider now directly owns 26,464 shares of the company’s stock, valued at $3,704,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Suzette M. Long sold 5,019 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the transaction, the general counsel now directly owns 12,569 shares in the company, valued at $1,587,967.46. The disclosure for this sale can be found here. Insiders sold 95,141 shares of company stock worth $13,717,142 over the last three months. 0.37% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CAT. Tortoise Investment Management LLC grew its stake in Caterpillar by 3,600.0% in the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in Caterpillar in the second quarter worth about $27,000. Private Ocean LLC grew its stake in Caterpillar by 62.9% in the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. G&S Capital LLC acquired a new position in Caterpillar in the third quarter worth about $38,000. Finally, Kavar Capital Partners LLC acquired a new position in Caterpillar in the second quarter worth about $46,000. 65.74% of the stock is currently owned by institutional investors.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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