Caterpillar Inc. (CAT) Given New $80.00 Price Target at Jefferies Group
Caterpillar Inc. (NYSE:CAT) had its target price lifted by equities researchers at Jefferies Group from $72.00 to $80.00 in a report issued on Tuesday. The brokerage currently has a “hold” rating on the stock. Jefferies Group’s price objective would suggest a potential downside of 9.32% from the stock’s previous close.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a report on Tuesday, August 30th. Citigroup Inc. set a $82.00 target price on shares of Caterpillar and gave the stock a “hold” rating in a report on Tuesday, August 16th. Credit Suisse Group AG set a $90.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 28th. Finally, Morgan Stanley reissued a “hold” rating and issued a $67.00 target price on shares of Caterpillar in a report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $74.94.
Caterpillar (NYSE:CAT) traded down 0.71% during midday trading on Tuesday, hitting $87.59. The company had a trading volume of 4,156,918 shares. The company’s 50 day moving average is $83.90 and its 200 day moving average is $78.74. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.87. The stock has a market cap of $51.17 billion, a price-to-earnings ratio of 58.39 and a beta of 1.54.
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Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter last year, the company posted $1.27 earnings per share. The company’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar will post $3.50 EPS for the current fiscal year.
In other Caterpillar news, Director Dennis A. Muilenburg acquired 1,930 shares of Caterpillar stock in a transaction that occurred on Friday, July 29th. The stock was acquired at an average price of $82.75 per share, with a total value of $159,707.50. Following the purchase, the director now owns 9,558 shares in the company, valued at $790,924.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CAT. Pittenger & Anderson Inc. raised its stake in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA raised its stake in 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 raised its stake in 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 raised its stake in 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 raised its stake in 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 owned by institutional investors and hedge funds.
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 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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