Caterpillar Inc. (NYSE:CAT)‘s stock had its “hold” rating reaffirmed by investment analysts at Bank of America Corp. in a report released on Monday. They currently have a $92.00 price target on the stock. Bank of America Corp.’s price objective points to a potential upside of 3.46% from the stock’s current price.
A number of other research analysts have also recently issued reports on the stock. Credit Suisse Group AG set a $90.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Tuesday, September 27th. Jefferies Group restated a “hold” rating and set a $72.00 price objective on shares of Caterpillar in a report on Thursday, September 22nd. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $85.19 price objective for the company. in a report on Monday, September 19th. Finally, Deutsche Bank AG assumed coverage on shares of Caterpillar in a report on Monday, September 12th. They issued a “buy” rating and a $82.08 price target for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $73.07.
Caterpillar (NYSE:CAT) traded up 0.106% on Monday, hitting $88.864. 1,549,306 shares of the stock were exchanged. Caterpillar has a one year low of $56.36 and a one year high of $89.19. The stock has a market capitalization of $51.92 billion, a P/E ratio of 59.243 and a beta of 1.54. The company has a 50 day moving average of $83.10 and a 200 day moving average of $78.10.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. On average, equities research analysts forecast that Caterpillar will post $3.50 earnings per share for the current fiscal year.
In other news, Director Dennis A. Muilenburg acquired 1,930 shares of Caterpillar stock in a transaction on Friday, July 29th. The shares were purchased at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the purchase, the director now directly owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bradley M. Halverson sold 2,841 shares of the 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 sale, the insider now owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
A number of large investors have recently made changes to their positions in CAT. Nisa Investment Advisors LLC increased its stake in Caterpillar by 11.7% in the second quarter. Nisa Investment Advisors LLC now owns 239,920 shares of the company’s stock worth $18,188,000 after buying an additional 25,210 shares during the last quarter. Edgar Lomax Co. VA increased its stake in Caterpillar by 30.6% in the first quarter. Edgar Lomax Co. VA now owns 535,350 shares of the company’s stock worth $40,976,000 after buying an additional 125,500 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Caterpillar by 4.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 330,980 shares of the company’s stock worth $25,333,000 after buying an additional 13,839 shares during the last quarter. Alps Advisors Inc. increased its stake in Caterpillar by 15.3% in the second quarter. Alps Advisors Inc. now owns 345,841 shares of the company’s stock worth $26,218,000 after buying an additional 45,798 shares during the last quarter. Finally, PGGM Investments increased its stake in Caterpillar by 8.1% in the second quarter. PGGM Investments now owns 806,656 shares of the company’s stock worth $61,153,000 after buying an additional 60,615 shares during the last quarter. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Caterpillar Company Profile
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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