Caterpillar (NYSE:CAT) Stock Price Expected to Rise, Oppenheimer Analyst Says

Caterpillar (NYSE:CAT) had its price objective upped by equities researchers at Oppenheimer from $645.00 to $700.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective suggests a potential upside of 8.47% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CAT. DA Davidson upped their price target on shares of Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Wolfe Research boosted their price objective on shares of Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Evercore ISI increased their target price on Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Bank of America increased their price objective on Caterpillar from $650.00 to $708.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $633.35.

Caterpillar Price Performance

Shares of CAT opened at $645.33 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The firm’s 50-day simple moving average is $591.07 and its two-hundred day simple moving average is $507.95. Caterpillar has a fifty-two week low of $267.30 and a fifty-two week high of $655.68. The stock has a market cap of $302.00 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 2.43 and a beta of 1.57.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter in the prior year, the business posted $5.17 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts anticipate that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the completion of the sale, the chief financial officer owned 45,460 shares of the company’s stock, valued at approximately $26,142,227.60. The trade was a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Maclennan acquired 300 shares of the stock in a transaction dated Thursday, November 6th. The shares were bought at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the transaction, the director owned 7,947 shares in the company, valued at approximately $4,520,730.42. This represents a 3.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 54,729 shares of company stock valued at $31,084,308 in the last quarter. Insiders own 0.33% of the company’s stock.

Institutional Trading of Caterpillar

Hedge funds and other institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC raised its holdings in Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares during the period. Norges Bank purchased a new position in Caterpillar in the 2nd quarter worth approximately $2,165,899,000. Wellington Management Group LLP boosted its stake in Caterpillar by 3,949.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock worth $2,494,568,000 after purchasing an additional 5,098,964 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Caterpillar by 1,851.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock valued at $873,382,000 after buying an additional 1,736,631 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Caterpillar by 425.2% during the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock valued at $295,738,000 after buying an additional 616,739 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.