Caterpillar (NYSE:CAT) was upgraded by stock analysts at Argus to a “buy” rating in a research report issued on Friday.
Other analysts have also recently issued reports about the company. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price target for the company in a research note on Thursday, October 19th. Barclays began coverage on Caterpillar in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $162.00 price objective for the company. ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Deutsche Bank set a $149.00 price objective on Caterpillar and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Citigroup reiterated a “neutral” rating and issued a $185.00 price objective (up from $160.00) on shares of Caterpillar in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Caterpillar has an average rating of “Buy” and a consensus price target of $167.80.
Shares of Caterpillar (NYSE:CAT) opened at $157.49 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97. The company has a market capitalization of $93,696.16, a PE ratio of 22.89, a PEG ratio of 1.68 and a beta of 1.23. Caterpillar has a 52 week low of $90.34 and a 52 week high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.39. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. Caterpillar’s revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. sell-side analysts predict that Caterpillar will post 9.05 earnings per share for the current year.
In other Caterpillar news, insider Jananne A. Copeland sold 3,247 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $136.95, for a total transaction of $444,676.65. Following the completion of the transaction, the insider now owns 8,908 shares of the company’s stock, valued at approximately $1,219,950.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the transaction, the insider now directly owns 96,268 shares of the company’s stock, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,331 shares of company stock valued at $22,107,578. Insiders own 0.14% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Caterpillar by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after purchasing an additional 2,377,623 shares in the last quarter. FMR LLC raised its stake in shares of Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after purchasing an additional 3,324,051 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Caterpillar by 10.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,058,115 shares of the industrial products company’s stock worth $328,625,000 after purchasing an additional 301,739 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Caterpillar by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 2,955,916 shares of the industrial products company’s stock worth $368,648,000 after purchasing an additional 11,745 shares in the last quarter. Institutional investors own 68.68% 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.