Caterpillar Inc. (CAT) Price Target Raised to $90.00 at Barclays PLC
Caterpillar Inc. (NYSE:CAT) had its price objective boosted by analysts at Barclays PLC from $78.00 to $90.00 in a report released on Wednesday. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s target price indicates a potential upside of 2.89% from the company’s current price.
A number of other research firms also recently commented on CAT. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $88.01 target price on the stock in a research report on Thursday, October 6th. Bank of America Corp. reissued a “hold” rating and set a $92.00 target price on shares of Caterpillar in a research report on Monday, October 3rd. Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Goldman Sachs Group Inc. upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their price target for the company from $76.00 to $112.00 in a report on Tuesday. Finally, Jefferies Group raised their price target on shares of Caterpillar from $72.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $76.23.
Shares of Caterpillar (NYSE:CAT) remained flat at $87.47 during midday trading on Wednesday. The company had a trading volume of 877,239 shares. The firm’s 50 day moving average is $84.01 and its 200-day moving average is $78.81. The firm has a market cap of $51.10 billion, a price-to-earnings ratio of 58.31 and a beta of 1.54. Caterpillar has a 52 week low of $56.36 and a 52 week high of $89.87.
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Caterpillar (NYSE:CAT) last posted 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. The business had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 EPS. On average, equities research analysts expect that Caterpillar will post $3.50 EPS for the current year.
In related news, Director Dennis A. Muilenburg purchased 1,930 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average price of $82.75 per share, with a total value of $159,707.50. Following the acquisition, the director now owns 9,558 shares in the company, valued at $790,924.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was 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. 0.15% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of CAT. American Money Management LLC raised its stake in Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock worth $291,000 after buying an additional 11 shares during the last quarter. Pitcairn Co. raised its stake in Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock worth $250,000 after buying an additional 14 shares during the last quarter. 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 worth $100,000 after buying an additional 25 shares during the last quarter. Sabal Trust CO raised its stake in Caterpillar by 0.7% in the second quarter. Sabal Trust CO now owns 4,128 shares of the company’s stock worth $313,000 after buying an additional 28 shares during the last quarter. Finally, St. Johns Investment Management Company LLC raised its stake in Caterpillar by 0.5% in the second quarter. St. Johns Investment Management Company LLC now owns 7,643 shares of the company’s stock worth $579,000 after buying an additional 36 shares during the last quarter. 69.03% of the stock is owned by institutional investors.
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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