Caterpillar (NYSE:CAT) was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, The Fly reports.
CAT has been the topic of several other reports. ValuEngine raised 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 on the stock. in a research report on Wednesday, December 27th. Goldman Sachs Group raised their target price on Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. JPMorgan Chase & Co. raised Caterpillar from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $161.96 to $200.00 in a research report on Monday, January 8th. Finally, Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $156.64.
Caterpillar (CAT) opened at $170.89 on Tuesday. The stock has a market capitalization of $101,670.00, a PE ratio of 118.67, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. 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 12-month low of $90.34 and a 12-month high of $173.24.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. equities analysts anticipate that Caterpillar will post 6.47 EPS for the current fiscal year.
In related news, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $137.09, for a total transaction of $522,724.17. Following the sale, the director now owns 6,554 shares of the company’s stock, valued at approximately $898,487.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the sale, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. Insiders have sold a total of 52,989 shares of company stock worth $7,235,850 in the last three months. 0.14% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Assetmark bought a new stake in Caterpillar in the 3rd quarter worth approximately $0. Patten Group Inc. increased its stake in Caterpillar by 0.4% in the 3rd quarter. Patten Group Inc. now owns 1,148 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 5 shares during the last quarter. S. R. Schill & Associates boosted its holdings in shares of Caterpillar by 0.3% in the 1st quarter. S. R. Schill & Associates now owns 2,204 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 6 shares during the period. Northstar Group Inc. boosted its holdings in shares of Caterpillar by 0.3% in the 1st quarter. Northstar Group Inc. now owns 2,377 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 8 shares during the period. Finally, Bingham Osborn & Scarborough LLC boosted its holdings in shares of Caterpillar by 0.4% in the 4th quarter. Bingham Osborn & Scarborough LLC now owns 2,303 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 9 shares during the period. 68.62% of the stock is currently owned by institutional investors.
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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.