Barclays Forecasts Strong Price Appreciation for Caterpillar (NYSE:CAT) Stock

Caterpillar (NYSE:CAT) had its price target raised by research analysts at Barclays from $555.00 to $610.00 in a report released on Friday,MarketScreener reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential downside of 3.67% from the company’s previous close.

A number of other equities research analysts also recently commented on CAT. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Citigroup boosted their price objective on shares of Caterpillar from $690.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Jefferies Financial Group upped their price target on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Sanford C. Bernstein lifted their price objective on Caterpillar from $557.00 to $630.00 and gave the stock a “market perform” rating in a report on Friday, December 19th. One equities 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $637.45.

Caterpillar Stock Performance

CAT traded down $15.15 during trading on Friday, hitting $633.26. The stock had a trading volume of 292,966 shares, compared to its average volume of 2,239,703. Caterpillar has a twelve month low of $267.30 and a twelve month high of $655.78. The firm has a market capitalization of $296.35 billion, a P/E ratio of 32.52, a PEG ratio of 2.49 and a beta of 1.57. 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 company’s 50-day moving average price is $592.97 and its 200 day moving average price is $508.92.

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

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total value 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 $26,142,227.60. The trade was a 18.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan purchased 300 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the purchase, the director owned 7,947 shares in the company, valued at $4,520,730.42. The trade was a 3.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,729 shares of company stock valued at $31,084,308. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Dara Capital US Inc. acquired a new stake in Caterpillar during the fourth quarter worth about $549,000. Brown Lisle Cummings Inc. raised its holdings in Caterpillar by 2.3% in the fourth quarter. Brown Lisle Cummings Inc. now owns 2,633 shares of the industrial products company’s stock valued at $1,508,000 after buying an additional 60 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Caterpillar by 95.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 45,896 shares of the industrial products company’s stock valued at $26,292,000 after buying an additional 22,444 shares in the last quarter. Successful Portfolios LLC grew its stake in Caterpillar by 22.9% during the fourth quarter. Successful Portfolios LLC now owns 521 shares of the industrial products company’s stock worth $322,000 after buying an additional 97 shares during the period. Finally, Clear Creek Financial Management LLC increased its position in shares of Caterpillar by 11.8% in the fourth quarter. Clear Creek Financial Management LLC now owns 1,688 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 178 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

About Caterpillar

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.