Caterpillar, Inc. (CAT) Price Target Increased to $150.00 by Analysts at BMO Capital Markets
Caterpillar, Inc. (NYSE:CAT) had its target price boosted by equities researchers at BMO Capital Markets from $130.00 to $150.00 in a note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the industrial products company’s stock. BMO Capital Markets’ price objective points to a potential upside of 25.39% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $107.75 target price on the stock. in a research note on Tuesday, May 23rd. Bank of America Corporation reiterated a “buy” rating and set a $120.00 target price on shares of Caterpillar in a research note on Thursday, May 25th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research note on Tuesday, June 6th. Credit Suisse Group reiterated a “buy” rating and set a $123.00 target price on shares of Caterpillar in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG lowered Caterpillar from a “buy” rating to a “hold” rating and lowered their target price for the stock from $121.00 to $106.00 in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.74.
Shares of Caterpillar (CAT) traded up 0.57% on Thursday, reaching $120.31. The company’s stock had a trading volume of 1,240,182 shares. The firm has a market cap of $71.10 billion, a price-to-earnings ratio of 672.12 and a beta of 1.24. Caterpillar has a 1-year low of $80.23 and a 1-year high of $121.39. The company’s 50 day moving average is $115.20 and its 200-day moving average is $104.28.
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 Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Caterpillar will post $5.24 EPS for the current year.
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In related news, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,471 shares of company stock worth $22,979,332. 0.15% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NGAM Advisors L.P. boosted its holdings in shares of Caterpillar by 2.9% during the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock valued at $8,742,000 after acquiring an additional 2,286 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Caterpillar by 527.0% during the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after acquiring an additional 164,989 shares in the last quarter. Bancorpsouth Inc. boosted its holdings in shares of Caterpillar by 1.2% during the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock valued at $537,000 after acquiring an additional 69 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Caterpillar during the 1st quarter valued at $46,917,000. Finally, State of Tennessee Treasury Department boosted its holdings in shares of Caterpillar by 58.4% during the 1st quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock valued at $26,746,000 after acquiring an additional 106,270 shares in the last quarter. 69.23% of the stock is currently owned by institutional investors.
Caterpillar Company Profile
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