Caterpillar (CAT) Receives New Coverage from Analysts at Berenberg Bank

Equities research analysts at Berenberg Bank began coverage on shares of Caterpillar (NYSE:CAT) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $200.00 price target on the industrial products company’s stock. Berenberg Bank’s target price indicates a potential upside of 17.36% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Credit Suisse Group reissued a “hold” rating and set a $133.00 target price on shares of Caterpillar in a research report on Friday, September 22nd. Zacks Investment Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. ValuEngine downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Deutsche Bank reissued a “hold” rating and set a $121.00 target price (up from $120.00) on shares of Caterpillar in a research report on Monday, October 9th. Finally, Goldman Sachs Group boosted their target price on shares of Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Caterpillar currently has an average rating of “Hold” and an average target price of $156.64.

Caterpillar (CAT) traded up $2.35 on Thursday, reaching $170.41. 5,779,718 shares of the company’s stock traded hands, compared to its average volume of 4,240,000. Caterpillar has a 12-month low of $90.34 and a 12-month high of $173.24. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $101,380.00, a P/E ratio of 118.34, a P/E/G ratio of 2.08 and a beta of 1.29.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the 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 firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. analysts forecast that Caterpillar will post 6.47 earnings per share for the current fiscal year.

In related news, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the transaction, the chief financial officer now directly owns 7,814 shares in the company, valued at $1,073,096.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bradley M. Halverson sold 2,600 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $137.67, for a total transaction of $357,942.00. Following the transaction, the insider now owns 5,214 shares in the company, valued at $717,811.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,989 shares of company stock worth $7,235,850. 0.14% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Beach Investment Management LLC. purchased a new position in Caterpillar in the second quarter valued at about $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Caterpillar by 9.8% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock valued at $5,995,000 after acquiring an additional 4,291 shares during the last quarter. Wealthsource Partners LLC purchased a new position in Caterpillar in the second quarter valued at about $316,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Caterpillar by 18.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,100 shares of the industrial products company’s stock valued at $18,979,000 after acquiring an additional 23,749 shares during the last quarter. Finally, FMR LLC boosted its stake in Caterpillar by 11.7% in 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 acquiring an additional 2,052,300 shares during the last quarter. Institutional investors and hedge funds own 68.55% of the company’s stock.

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About Caterpillar

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.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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