Caterpillar’s (CAT) Buy Rating Reiterated at BMO Capital Markets

Caterpillar (NYSE:CAT)‘s stock had its “buy” rating restated by equities researchers at BMO Capital Markets in a research note issued on Thursday. They currently have a $195.00 target price on the industrial products company’s stock, up from their previous target price of $165.00. BMO Capital Markets’ price target suggests a potential upside of 23.98% from the stock’s current price.

Several other analysts have also weighed in on the company. ValuEngine raised Caterpillar from a “hold” rating to a “buy” rating in a report on Sunday. Vetr raised Caterpillar from a “strong sell” rating to a “sell” rating and set a $141.73 price objective for the company in a report on Thursday, December 28th. Citigroup boosted their price objective on Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, December 21st. OTR Global lowered Caterpillar to a “positive” rating in a report on Monday, December 18th. Finally, Barclays initiated coverage on Caterpillar in a report on Tuesday, December 12th. They issued an “overweight” rating and a $162.00 price objective for the company. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $141.72.

Shares of Caterpillar (CAT) traded up $0.24 during trading on Thursday, reaching $157.28. The company had a trading volume of 4,146,000 shares, compared to its average volume of 4,627,150. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The company has a market capitalization of $94,380.00, a price-to-earnings ratio of 109.22, a P/E/G ratio of 1.95 and a beta of 1.29. Caterpillar has a 1 year low of $90.34 and a 1 year high of $159.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The firm had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. Caterpillar’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. equities analysts anticipate that Caterpillar will post 6.45 EPS for the current year.

In other news, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the completion of the transaction, the chief financial officer now directly owns 7,814 shares in the company, valued at $1,073,096.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bradley M. Halverson sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $137.67, for a total value of $357,942.00. Following the transaction, the insider now owns 5,214 shares of the company’s stock, valued at $717,811.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,989 shares of company stock valued at $7,235,850. Insiders own 0.14% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CAT. Beach Investment Management LLC. bought a new stake in Caterpillar during the second quarter worth approximately $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Caterpillar by 9.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock worth $5,995,000 after purchasing an additional 4,291 shares in the last quarter. Wealthsource Partners LLC bought a new stake in Caterpillar during the second quarter worth approximately $316,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Caterpillar by 18.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,100 shares of the industrial products company’s stock worth $18,979,000 after purchasing an additional 23,749 shares in the last quarter. Finally, FMR LLC raised its holdings in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Institutional investors and hedge funds own 68.54% of the company’s stock.

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