Caterpillar (NYSE:CAT) had its price target hoisted by equities research analysts at Wells Fargo & Co from $160.00 to $200.00 in a report issued on Thursday. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Wells Fargo & Co’s price objective suggests a potential upside of 18.69% from the stock’s previous close.
Several other brokerages have also issued reports on CAT. Vetr raised shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price target on the stock in a report on Monday. Bank of America reaffirmed a “buy” rating and set a $189.00 price target (up from $158.00) on shares of Caterpillar in a report on Friday, January 12th. Berenberg Bank assumed coverage on shares of Caterpillar in a report on Thursday. They set a “buy” rating and a $200.00 price target on the stock. JPMorgan Chase & Co. raised shares of Caterpillar from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $161.96 to $200.00 in a report on Monday, January 8th. Finally, UBS Group set a $180.00 price target on shares of Caterpillar and gave the company a “buy” rating in a report on Friday, January 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and a consensus target price of $153.08.
Shares of Caterpillar (CAT) traded down $0.81 during trading on Thursday, hitting $168.50. 5,571,400 shares of the company traded hands, compared to its average volume of 5,129,418. The company has a market cap of $100,800.00, a price-to-earnings ratio of 117.01, a PEG ratio of 2.09 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. Caterpillar has a 12 month low of $90.34 and a 12 month high of $173.24.
In other news, insider Thomas A. Pellette sold 24,547 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the transaction, the insider now owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. Insiders sold a total of 52,989 shares of company stock worth $7,235,850 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CAT. Ironwood Investment Counsel LLC lifted its position in shares of Caterpillar by 0.3% during the 2nd quarter. Ironwood Investment Counsel LLC now owns 3,425 shares of the industrial products company’s stock valued at $368,000 after acquiring an additional 10 shares during the period. Southeast Asset Advisors Inc. lifted its position in shares of Caterpillar by 0.3% during the 2nd quarter. Southeast Asset Advisors Inc. now owns 4,279 shares of the industrial products company’s stock valued at $460,000 after acquiring an additional 12 shares during the period. Bingham Osborn & Scarborough LLC lifted its position in shares of Caterpillar by 1.3% during the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 2,327 shares of the industrial products company’s stock valued at $250,000 after acquiring an additional 30 shares during the period. WFG Advisors LP lifted its position in shares of Caterpillar by 0.4% during the 2nd quarter. WFG Advisors LP now owns 8,538 shares of the industrial products company’s stock valued at $917,000 after acquiring an additional 33 shares during the period. Finally, California Capital Advisors Inc. lifted its position in shares of Caterpillar by 0.3% during the 2nd quarter. California Capital Advisors Inc. now owns 12,018 shares of the industrial products company’s stock valued at $1,291,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 68.55% of the company’s stock.
About Caterpillar
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.
