Caterpillar (NYSE:CAT) Given New $414.00 Price Target at Truist Financial

Caterpillar (NYSE:CAT) had its price target increased by research analysts at Truist Financial from $396.00 to $414.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 10.92% from the stock’s previous close.

Several other research analysts have also weighed in on CAT. Evercore ISI lowered their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research report on Monday, May 19th. Wall Street Zen downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Robert W. Baird raised their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $380.83.

Caterpillar Price Performance

CAT stock opened at $373.26 on Monday. Caterpillar has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The stock has a market cap of $175.82 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.44 and a beta of 1.37. The company has a 50 day simple moving average of $336.93 and a 200 day simple moving average of $346.43.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the company earned $5.60 EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts anticipate that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. lifted its stake in shares of Caterpillar by 6.3% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 28 shares during the last quarter. Carrera Capital Advisors increased its stake in Caterpillar by 2.5% in the fourth quarter. Carrera Capital Advisors now owns 1,238 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 30 shares during the period. BBR Partners LLC lifted its position in shares of Caterpillar by 0.7% during the fourth quarter. BBR Partners LLC now owns 4,162 shares of the industrial products company’s stock worth $1,510,000 after purchasing an additional 30 shares during the last quarter. McIlrath & Eck LLC boosted its stake in shares of Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 30 shares during the period. Finally, Allen Wealth Management LLC grew its holdings in shares of Caterpillar by 0.8% in the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company’s stock worth $1,322,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.