Caterpillar (NYSE:CAT) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.
A number of other equities research analysts have also weighed in on the stock. Barclays restated a “hold” rating and issued a $140.00 price objective on shares of Caterpillar in a report on Thursday, April 16th. UBS Group boosted their price objective on shares of Caterpillar from $112.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Stifel Nicolaus raised shares of Caterpillar from a “hold” rating to a “buy” rating and decreased their target price for the stock from $140.00 to $137.00 in a research note on Monday, March 16th. Standpoint Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, Cfra decreased their target price on shares of Caterpillar from $120.00 to $101.00 and set a “sell” rating on the stock in a research note on Tuesday, April 28th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $131.95.
Caterpillar stock traded up $1.25 during mid-day trading on Tuesday, hitting $126.50. 2,776,575 shares of the company traded hands, compared to its average volume of 4,648,738. Caterpillar has a one year low of $87.50 and a one year high of $150.55. The stock has a market cap of $67.79 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.97 and a current ratio of 1.42. The stock has a fifty day moving average price of $120.96 and a 200-day moving average price of $126.22.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.09). Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.98 billion. During the same quarter in the previous year, the firm earned $2.94 earnings per share. The company’s revenue for the quarter was down 21.0% compared to the same quarter last year. Sell-side analysts predict that Caterpillar will post 4.94 EPS for the current year.
A number of institutional investors have recently made changes to their positions in CAT. Wealth Quarterback LLC purchased a new position in Caterpillar during the fourth quarter worth $14,912,310,000. Geode Capital Management LLC increased its holdings in Caterpillar by 1.4% in the first quarter. Geode Capital Management LLC now owns 7,687,192 shares of the industrial products company’s stock valued at $890,345,000 after buying an additional 102,641 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Caterpillar by 17.9% in the first quarter. Wellington Management Group LLP now owns 6,735,624 shares of the industrial products company’s stock valued at $781,602,000 after buying an additional 1,023,938 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Caterpillar by 1.1% in the first quarter. Fisher Asset Management LLC now owns 5,609,147 shares of the industrial products company’s stock valued at $650,885,000 after buying an additional 62,036 shares during the period. Finally, Norges Bank bought a new stake in shares of Caterpillar in the fourth quarter valued at about $754,296,000. Institutional investors own 64.07% of the company’s stock.
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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