Citigroup Reaffirms “Neutral” Rating for Caterpillar (CAT)
Caterpillar (NYSE:CAT)‘s stock had its “neutral” rating reiterated by equities researchers at Citigroup in a report issued on Friday. They presently have a $185.00 target price on the industrial products company’s stock, up from their previous target price of $160.00. Citigroup’s price objective would suggest a potential upside of 9.02% from the company’s previous close.
Several other research analysts also recently commented on the company. Credit Suisse Group raised their price objective on Caterpillar from $155.00 to $192.00 and gave the stock a “positive” rating in a research note on Friday. Wells Fargo & Co raised their price objective on Caterpillar from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. Berenberg Bank started coverage on Caterpillar in a research note on Thursday. They issued a “buy” rating and a $200.00 price objective on the stock. Vetr raised Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price objective on the stock in a research note on Monday. Finally, Bank of America reaffirmed a “buy” rating and issued a $189.00 price objective (up previously from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. Caterpillar presently has an average rating of “Hold” and an average price target of $156.03.
Caterpillar (NYSE CAT) traded up $1.65 during mid-day trading on Friday, reaching $169.70. The company’s stock had a trading volume of 1,210,000 shares, compared to its average volume of 4,180,000. Caterpillar has a 52 week low of $90.34 and a 52 week high of $173.24. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The company has a market capitalization of $100,960.00, a P/E ratio of 117.85, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29.
In other news, CFO Bradley M. Halverson sold 17,210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Insiders sold a total of 52,989 shares of company stock valued at $7,235,850 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.
Large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in shares of Caterpillar by 10.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 128 shares during the last quarter. Motco lifted its stake in shares of Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 718 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 900 shares during the last quarter. Blue Chip Partners Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $136,000. Finally, Hanson McClain Inc. lifted its stake in shares of Caterpillar by 81.1% during the 2nd quarter. Hanson McClain Inc. now owns 1,313 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 588 shares during the last quarter. 68.55% of the stock is owned by institutional investors and hedge funds.
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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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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