Caterpillar Inc. (NYSE:CAT) received a $90.00 price objective from analysts at Credit Suisse Group AG in a report released on Wednesday. The firm currently has a a “buy” rating on the stock. Credit Suisse Group AG’s price objective indicates a potential upside of 2.89% from the company’s current price.
CAT has been the topic of a number of other research reports. Citigroup Inc. upped their price objective on Caterpillar from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Jefferies Group restated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research note on Tuesday, August 30th. Vetr upgraded Caterpillar from a “strong sell” rating to a “sell” rating and set a $79.15 price target on the stock in a research note on Wednesday, July 27th. Finally, Deutsche Bank AG began coverage on Caterpillar in a research note on Tuesday, September 6th. They issued a “buy” rating and a $72.56 price target on the stock. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $72.62.
Shares of Caterpillar (NYSE:CAT) opened at 87.47 on Wednesday. Caterpillar has a one year low of $56.36 and a one year high of $88.85. The firm has a market capitalization of $51.10 billion, a PE ratio of 58.31 and a beta of 1.64. The firm’s 50 day moving average is $82.94 and its 200-day moving average is $77.99.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue was down 16.0% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar will post $3.50 earnings per share for the current fiscal year.
In other news, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the transaction, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis A. Muilenburg acquired 1,930 shares of the stock in a transaction dated Friday, July 29th. The shares were bought at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the transaction, the director now directly owns 9,558 shares of the company’s stock, valued at $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Dynamic Advisors Solutions LLC boosted its stake in Caterpillar by 8.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 7,741 shares of the company’s stock valued at $592,000 after buying an additional 600 shares in the last quarter. BTC Capital Management Inc. boosted its stake in Caterpillar by 5.8% in the first quarter. BTC Capital Management Inc. now owns 34,960 shares of the company’s stock valued at $2,675,000 after buying an additional 1,929 shares in the last quarter. Virginia Retirement System acquired a new stake in Caterpillar during the first quarter valued at approximately $1,320,000. Aspen Investment Management Inc boosted its stake in Caterpillar by 32.2% in the first quarter. Aspen Investment Management Inc now owns 4,924 shares of the company’s stock valued at $377,000 after buying an additional 1,200 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in Caterpillar during the first quarter valued at approximately $977,000. Institutional investors own 69.03% of the company’s stock.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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