Caterpillar (NYSE:CAT) Shares Up 1% – Here’s What Happened

Caterpillar Inc. (NYSE:CAT)’s stock price rose 1% on Monday . The company traded as high as $827.81 and last traded at $817.29. 1,833,357 shares were traded during trading, a decline of 36% from the average daily volume of 2,852,779 shares. The stock had previously closed at $808.99.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAT. Needham & Company LLC set a $980.00 target price on shares of Caterpillar in a report on Thursday, September 10th. Freedom Broker raised Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 price target on the stock in a report on Thursday, September 10th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Robert W. Baird set a $970.00 price objective on Caterpillar in a research report on Wednesday, August 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $1,118.00 target price on shares of Caterpillar in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $994.17.

Caterpillar Trading Up 1.0%

The firm has a market cap of $375.69 billion, a PE ratio of 35.17, a P/E/G ratio of 1.40 and a beta of 1.60. The company’s fifty day moving average price is $837.71 and its two-hundred day moving average price is $842.12. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The firm had revenue of $20.54 billion during the quarter, compared to analysts’ expectations of $19.34 billion. During the same period in the prior year, the company posted $4.72 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 27.37 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the sale, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth approximately $5,372,000. D.B. Root & Company LLC acquired a new position in Caterpillar during the second quarter worth $850,000. Dearborn Partners LLC purchased a new stake in Caterpillar during the second quarter worth $20,293,000. B. Metzler seel. Sohn & Co. AG boosted its position in Caterpillar by 4.3% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 62,731 shares of the industrial products company’s stock worth $66,802,000 after purchasing an additional 2,590 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock valued at $12,844,000 after purchasing an additional 604 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction, mining, and industrial equipment. The company’s products include excavators, dozers, wheel loaders, motor graders, articulated trucks, and off-highway trucks, as well as related attachments and work tools. Caterpillar also supplies replacement parts, equipment services, technology solutions, and rental support through its dealer network.

The company serves customers in construction, mining, quarrying, energy, transportation, forestry, agriculture, and government-related industries.