Caterpillar (NYSE:CAT) had its target price upped by equities researchers at Credit Suisse Group from $155.00 to $192.00 in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 12.67% from the stock’s previous close.
CAT has been the subject of several other research reports. ValuEngine raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Vetr cut Caterpillar from a “sell” rating to a “strong sell” rating and set a $139.26 target price for the company. in a research note on Wednesday, December 27th. Goldman Sachs Group increased their target price on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 9th. JPMorgan Chase & Co. upgraded Caterpillar from a “neutral” rating to an “overweight” rating and increased their target price for the company from $161.96 to $200.00 in a research note on Monday, January 8th. Finally, Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company’s stock. Caterpillar has a consensus rating of “Hold” and a consensus price target of $156.64.
Shares of Caterpillar (NYSE CAT) traded up $2.35 during trading hours on Friday, reaching $170.41. 5,796,469 shares of the company’s stock traded hands, compared to its average volume of 4,180,000. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. Caterpillar has a one year low of $90.34 and a one year high of $173.24. The firm has a market capitalization of $101,380.00, a P/E ratio of 118.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.29.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The company had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the company earned $0.85 earnings per share. Caterpillar’s revenue for the quarter was up 24.6% on a year-over-year basis. equities research analysts anticipate that Caterpillar will post 6.47 EPS for the current year.
In related news, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the transaction, the insider now directly owns 11,096 shares in the company, valued at $1,526,587.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bradley M. Halverson sold 17,210 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 7,814 shares in the company, valued at $1,073,096.62. The disclosure for this sale can be found here. Insiders have sold 52,989 shares of company stock worth $7,235,850 over the last 90 days. 0.14% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Beach Investment Management LLC. bought a new stake in Caterpillar in the second quarter valued at $231,000. Morse Asset Management Inc lifted its stake in Caterpillar by 103.5% in the second quarter. Morse Asset Management Inc now owns 20,250 shares of the industrial products company’s stock valued at $2,176,000 after buying an additional 10,300 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Caterpillar by 173.7% in the second quarter. Canada Pension Plan Investment Board now owns 576,519 shares of the industrial products company’s stock valued at $61,953,000 after buying an additional 365,890 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in Caterpillar by 2.1% in the second quarter. Wetherby Asset Management Inc. now owns 9,369 shares of the industrial products company’s stock valued at $1,007,000 after buying an additional 189 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Caterpillar by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,098,704 shares of the industrial products company’s stock valued at $225,527,000 after buying an additional 96,718 shares during the last quarter. Hedge funds and other institutional investors own 68.55% of the company’s stock.
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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.