Caterpillar, Inc. (NYSE:CAT)‘s stock had its “buy” rating reaffirmed by stock analysts at Bank of America Corporation in a note issued to investors on Thursday. They presently have a $135.00 price objective on the industrial products company’s stock, up from their previous price objective of $120.00. Bank of America Corporation’s target price would indicate a potential upside of 18.04% from the stock’s current price.

Several other equities analysts have also commented on the stock. Credit Suisse Group reaffirmed a “buy” rating and set a $123.00 target price on shares of Caterpillar in a report on Thursday, June 22nd. Vetr lowered shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 target price on the stock. in a report on Tuesday, April 25th. Robert W. Baird set a $102.00 target price on shares of Caterpillar and gave the company a “hold” rating in a report on Wednesday, April 12th. Goldman Sachs Group, Inc. (The) raised shares of Caterpillar from a “buy” rating to a “conviction-buy” rating and set a $120.00 target price on the stock in a report on Tuesday, April 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $110.00 target price on shares of Caterpillar in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $104.20.

Caterpillar (NYSE CAT) traded up 0.75% during mid-day trading on Thursday, hitting $114.37. 5,578,792 shares of the company’s stock were exchanged. The stock’s market cap is $67.37 billion. The stock’s 50 day moving average price is $106.93 and its 200-day moving average price is $99.56. Caterpillar has a 12 month low of $79.93 and a 12 month high of $114.89.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. Equities analysts expect that Caterpillar will post $4.85 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Trust Co. NA boosted its position in shares of Caterpillar by 23.0% in the first quarter. Private Trust Co. NA now owns 7,548 shares of the industrial products company’s stock worth $700,000 after buying an additional 1,413 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Caterpillar by 58.4% in the first quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock worth $26,746,000 after buying an additional 106,270 shares during the period. Stevens Capital Management LP boosted its position in shares of Caterpillar by 211.0% in the first quarter. Stevens Capital Management LP now owns 153,894 shares of the industrial products company’s stock worth $14,275,000 after buying an additional 104,412 shares during the period. World Asset Management Inc boosted its position in shares of Caterpillar by 9.5% in the first quarter. World Asset Management Inc now owns 63,392 shares of the industrial products company’s stock worth $5,880,000 after buying an additional 5,512 shares during the period. Finally, Ipswich Investment Management Co. Inc. boosted its position in shares of Caterpillar by 3.1% in the first quarter. Ipswich Investment Management Co. Inc. now owns 50,212 shares of the industrial products company’s stock worth $4,658,000 after buying an additional 1,490 shares during the period. 70.69% of the stock is owned by institutional investors.

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