Caterpillar Inc. (CAT) Receives “Buy” Rating from Credit Suisse Group AG
Caterpillar Inc. (NYSE:CAT)‘s stock had its “buy” rating restated by investment analysts at Credit Suisse Group AG in a research report issued on Thursday.
Several other research firms also recently issued reports on CAT. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research note on Tuesday, August 30th. Citigroup Inc. set a $82.00 price target on Caterpillar and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. Morgan Stanley reiterated a “hold” rating and set a $67.00 price target on shares of Caterpillar in a research note on Thursday, July 28th. Finally, Deutsche Bank AG began coverage on Caterpillar in a research note on Tuesday, September 6th. They set a “buy” rating and a $72.56 price target for the company. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $72.24.
Shares of Caterpillar (NYSE:CAT) traded up 0.34% on Thursday, hitting $83.75. The stock had a trading volume of 1,544,821 shares. The firm’s 50-day moving average is $82.66 and its 200 day moving average is $77.52. Caterpillar has a 1-year low of $56.36 and a 1-year high of $84.73. The stock has a market cap of $48.93 billion, a P/E ratio of 55.83 and a beta of 1.64.
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Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The firm had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. Equities analysts forecast that Caterpillar will post $3.50 EPS for the current year.
In other news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the transaction, the insider now owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dennis A. Muilenburg purchased 1,930 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the purchase, the director now owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pittenger & Anderson Inc. increased its position in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock worth $100,000 after buying an additional 25 shares during the period. Kelly Lawrence W & Associates Inc. CA increased its stake in shares of Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock valued at $115,000 after buying an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Caterpillar by 266.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,513 shares of the company’s stock valued at $115,000 after buying an additional 1,100 shares during the last quarter. CapWealth Advisors LLC increased its stake in shares of Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $128,000 after buying an additional 100 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its stake in shares of Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock valued at $128,000 after buying an additional 1,581 shares during the last quarter. 69.03% of the stock is currently owned by institutional investors.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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