Caterpillar Inc. (CAT) Rating Increased to Buy at Vetr Inc.
Caterpillar Inc. (NYSE:CAT) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $96.01 price target on the stock. Vetr‘s target price would indicate a potential upside of 9.76% from the stock’s current price.
Several other equities research analysts have also weighed in on CAT. Jefferies Group upped their target price on shares of Caterpillar from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, June 30th. RBC Capital Markets set a $73.00 price objective on shares of Caterpillar and gave the stock a “hold” rating in a report on Wednesday, July 27th. Citigroup Inc. increased their price objective on shares of Caterpillar from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Goldman Sachs Group Inc. raised shares of Caterpillar from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $112.00 in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. Caterpillar has a consensus rating of “Hold” and a consensus target price of $75.27.
Caterpillar (NYSE:CAT) opened at 87.47 on Wednesday. Caterpillar has a 52-week low of $56.36 and a 52-week high of $89.87. The stock has a market capitalization of $51.10 billion, a P/E ratio of 58.31 and a beta of 1.54. The stock has a 50 day moving average of $84.01 and a 200 day moving average of $78.81.
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Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $10.06 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar will post $3.50 EPS for the current year.
In other news, Director Dennis A. Muilenburg bought 1,930 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of Caterpillar 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 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.
Large investors have recently bought and sold shares of the company. Pittenger & Anderson Inc. increased 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 in the last quarter. Kelly Lawrence W & Associates Inc. CA increased 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 worth $115,000 after buying an additional 200 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased 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 worth $115,000 after buying an additional 1,100 shares in the last quarter. CapWealth Advisors LLC increased its stake in Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock worth $128,000 after buying an additional 100 shares in the last quarter. Finally, Archford Capital Strategies LLC increased 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 worth $128,000 after buying an additional 1,581 shares in 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.
To view Vetr’s full report, visit Vetr’s official website.
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