Caterpillar, Inc. (CAT) Receives Buy Rating from BMO Capital Markets
Caterpillar, Inc. (NYSE:CAT)‘s stock had its “buy” rating reiterated by analysts at BMO Capital Markets in a research report issued to clients and investors on Friday. They currently have a $150.00 target price on the industrial products company’s stock. BMO Capital Markets’ price target indicates a potential upside of 14.19% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective for the company in a research note on Thursday. Credit Suisse Group reiterated a “buy” rating and issued a $123.00 price objective on shares of Caterpillar in a research note on Thursday, June 22nd. Zacks Investment Research cut shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $125.00 price objective on shares of Caterpillar in a research note on Sunday, July 30th. Finally, Atlantic Securities upgraded shares of Caterpillar from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $85.00 to $115.00 in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and an average price target of $119.82.
Caterpillar (NYSE CAT) traded up 0.45% on Friday, reaching $131.36. 3,063,658 shares of the company’s stock were exchanged. The company has a market capitalization of $77.63 billion, a P/E ratio of 733.85 and a beta of 1.26. The firm has a 50-day moving average price of $124.38 and a 200-day moving average price of $110.39. Caterpillar has a 1-year low of $80.33 and a 1-year high of $131.91.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the business earned $1.09 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Caterpillar will post $5.29 earnings per share for the current year.
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In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,471 shares of company stock valued at $22,979,332. 0.14% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CAT. Vanguard Group Inc. increased its stake in Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares during the last quarter. FMR LLC increased its stake in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Caterpillar during the first quarter valued at $143,490,000. Morgan Stanley increased its stake in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its stake in Caterpillar by 663.8% during the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after purchasing an additional 1,216,053 shares during the last quarter. Hedge funds and other institutional investors own 69.23% of the company’s stock.
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