Caterpillar (NYSE:CAT) Price Target Raised to $920.00 at Truist Financial

Caterpillar (NYSE:CAT) had its price objective increased by stock analysts at Truist Financial from $786.00 to $920.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 15.76% from the company’s previous close.

A number of other brokerages have also issued reports on CAT. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $765.00 to $860.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Wells Fargo & Company raised their target price on shares of Caterpillar from $756.00 to $870.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Morgan Stanley raised their target price on shares of Caterpillar from $425.00 to $430.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $757.55.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $794.75 on Monday. The firm has a market capitalization of $369.79 billion, a P/E ratio of 42.23, a P/E/G ratio of 1.86 and a beta of 1.52. Caterpillar has a 52 week low of $282.46 and a 52 week high of $801.77. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The firm’s 50 day moving average is $735.24 and its two-hundred day moving average is $636.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.67 by $0.49. The company had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.14 earnings per share. Research analysts forecast that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In related news, insider Denise C. Johnson sold 39,138 shares of Caterpillar stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $681.08, for a total value of $26,656,109.04. Following the transaction, the insider directly owned 43,350 shares in the company, valued at $29,524,818. This trade represents a 47.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 10,671 shares of Caterpillar stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $680.45, for a total transaction of $7,261,081.95. Following the completion of the transaction, the insider owned 41,151 shares in the company, valued at approximately $28,001,197.95. This trade represents a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 125,950 shares of company stock worth $88,577,390 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Faithward Advisors LLC grew its position in Caterpillar by 0.4% in the 1st quarter. Faithward Advisors LLC now owns 12,678 shares of the industrial products company’s stock valued at $8,982,000 after buying an additional 45 shares during the last quarter. Hamilton Capital Partners LLC purchased a new position in Caterpillar in the 1st quarter valued at $306,000. EdgeRock Capital LLC lifted its holdings in Caterpillar by 4.4% in the first quarter. EdgeRock Capital LLC now owns 618 shares of the industrial products company’s stock valued at $438,000 after acquiring an additional 26 shares during the period. Cidel Asset Management Inc. lifted its holdings in Caterpillar by 3.6% in the first quarter. Cidel Asset Management Inc. now owns 2,426 shares of the industrial products company’s stock valued at $1,719,000 after acquiring an additional 85 shares during the period. Finally, New Covenant Trust Company N.A. acquired a new stake in Caterpillar in the first quarter valued at $211,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Company Profile

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.