Caterpillar (NYSE:CAT) had its price objective increased by investment analysts at Bank of America from $189.00 to $192.00 in a research report issued on Friday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America’s price target would suggest a potential upside of 15.29% from the stock’s current price.
A number of other brokerages have also recently commented on CAT. Barclays set a $180.00 price target on Caterpillar and gave the stock an “overweight” rating in a research report on Wednesday. Vetr cut Caterpillar from a “hold” rating to a “sell” rating and set a $122.98 price target for the company. in a research report on Monday, October 9th. Credit Suisse Group restated an “outperform” rating and issued a $146.00 price target (up previously from $133.00) on shares of Caterpillar in a research report on Wednesday, October 18th. Wells Fargo & Co increased their target price on Caterpillar from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Finally, BMO Capital Markets increased their target price on Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Caterpillar currently has an average rating of “Buy” and an average price target of $160.13.
Shares of Caterpillar (NYSE CAT) traded down $2.81 on Friday, reaching $166.53. The company’s stock had a trading volume of 1,750,000 shares, compared to its average volume of 5,030,000. 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 stock has a market capitalization of $99,070.00, a PE ratio of 132.17, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29. Caterpillar has a fifty-two week low of $90.34 and a fifty-two week high of $173.24.
In other Caterpillar 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 transaction of $2,363,449.30. Following the completion of the transaction, the chief financial officer now owns 7,814 shares in the company, valued at approximately $1,073,096.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley M. Halverson sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $137.67, for a total value of $357,942.00. Following the transaction, the insider now owns 5,214 shares of the company’s stock, valued at approximately $717,811.38. The disclosure for this sale can be found here. Insiders have sold a total of 51,417 shares of company stock valued at $7,019,575 in the last 90 days. 0.14% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Quadrant Capital Group LLC lifted its stake in shares of Caterpillar by 10.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares during the last quarter. Motco lifted its stake in shares of Caterpillar by 264.9% in the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Caterpillar by 900.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $131,000. Finally, Blue Chip Partners Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $136,000. Institutional investors and hedge funds own 68.62% 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.
