Equities researchers at Stephens started coverage on shares of Caterpillar (NYSE:CAT) in a research report issued on Wednesday, The Fly reports. The brokerage set an “underweight” rating on the industrial products company’s stock.
A number of other equities analysts have also issued reports on CAT. Wells Fargo & Co decreased their target price on shares of Caterpillar from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. UBS Group reduced their price objective on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating for the company in a research report on Tuesday, June 4th. Buckingham Research lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $162.00 to $140.00 in a research report on Thursday, July 25th. Macquarie set a $115.00 price objective on shares of Caterpillar and gave the company a “sell” rating in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada restated a “hold” rating on shares of Caterpillar in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Caterpillar presently has a consensus rating of “Hold” and an average target price of $141.89.
Shares of NYSE:CAT traded down $3.53 on Wednesday, reaching $115.48. 3,922,077 shares of the company’s stock were exchanged, compared to its average volume of 4,408,910. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52. Caterpillar has a fifty-two week low of $112.06 and a fifty-two week high of $159.37. The business has a 50-day simple moving average of $131.78. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm had revenue of $14.43 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period last year, the business earned $2.97 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that Caterpillar will post 11.73 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tortoise Investment Management LLC raised its position in Caterpillar by 3,600.0% during the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 180 shares in the last quarter. Paragon Capital Management LLC acquired a new position in Caterpillar during the first quarter valued at approximately $40,000. Kavar Capital Partners LLC acquired a new position in Caterpillar during the second quarter valued at approximately $46,000. Sound Income Strategies LLC grew its holdings in Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 72 shares during the last quarter. Finally, Exane Derivatives acquired a new position in Caterpillar during the second quarter valued at approximately $54,000. 66.86% of the stock is owned by institutional investors and hedge funds.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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