Caterpillar, Inc. (NYSE:CAT) had its price target raised by investment analysts at Citigroup Inc. from $115.00 to $125.00 in a report issued on Wednesday. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup Inc.’s target price would indicate a potential upside of 10.11% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Caterpillar from a “hold” rating to a “sell” rating in a report on Wednesday, March 29th. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $89.96 price target on the stock in a report on Monday, April 3rd. Bank of America Corporation raised Caterpillar from a “neutral” rating to a “buy” rating and increased their price target for the company from $105.00 to $120.00 in a report on Thursday, May 11th. Raymond James Financial, Inc. raised Caterpillar to a “buy” rating and set a $55.00 price target on the stock in a report on Thursday, April 27th. Finally, Axiom Securities reissued a “sell” rating on shares of Caterpillar in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $103.93.

Caterpillar (NYSE CAT) traded down 0.89% during mid-day trading on Wednesday, reaching $113.52. The company’s stock had a trading volume of 5,741,249 shares. Caterpillar has a 12-month low of $78.74 and a 12-month high of $114.54. The company has a 50-day moving average price of $106.41 and a 200-day moving average price of $99.30. The firm has a market cap of $66.87 billion, a PE ratio of 34.61 and a beta of 1.24.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a positive return on equity of 16.46% and a negative net margin of 0.38%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. On average, equities research analysts expect that Caterpillar will post $4.58 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Citigroup Inc. Raises Caterpillar, Inc. (NYSE:CAT) Price Target to $125.00” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/07/26/citigroup-inc-raises-caterpillar-inc-nysecat-price-target-to-125-00.html.

Several institutional investors have recently modified their holdings of the company. Wealthfront Inc. raised its position in shares of Caterpillar by 14.9% in the fourth quarter. Wealthfront Inc. now owns 15,340 shares of the industrial products company’s stock worth $1,423,000 after buying an additional 1,991 shares during the period. RMB Capital Management LLC raised its position in shares of Caterpillar by 407.6% in the fourth quarter. RMB Capital Management LLC now owns 12,945 shares of the industrial products company’s stock valued at $1,201,000 after buying an additional 10,395 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Caterpillar by 0.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,218,953 shares of the industrial products company’s stock valued at $205,785,000 after buying an additional 14,913 shares during the last quarter. Whalerock Point Partners LLC raised its position in shares of Caterpillar by 10.6% in the fourth quarter. Whalerock Point Partners LLC now owns 17,190 shares of the industrial products company’s stock valued at $1,595,000 after buying an additional 1,650 shares during the last quarter. Finally, High Point Bank & Trust Co. raised its position in shares of Caterpillar by 3.9% in the fourth quarter. High Point Bank & Trust Co. now owns 4,119 shares of the industrial products company’s stock valued at $382,000 after buying an additional 155 shares during the last quarter. 70.69% of the stock is currently owned by institutional investors and hedge funds.

About Caterpillar

Analyst Recommendations for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.