Caterpillar (CAT) Given New $192.00 Price Target at Credit Suisse Group

Caterpillar (NYSE:CAT) had its price objective increased by equities researchers at Credit Suisse Group from $155.00 to $192.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 12.67% from the stock’s previous close.

Several other brokerages also recently issued reports on CAT. Vetr downgraded shares of Caterpillar from a “hold” rating to a “sell” rating and set a $122.98 target price for the company. in a research note on Monday, October 9th. Wells Fargo & Co raised their target price on shares of Caterpillar from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. BMO Capital Markets raised their target price on shares of Caterpillar from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. UBS Group set a $155.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research note on Tuesday, December 5th. Finally, Berenberg Bank initiated coverage on shares of Caterpillar in a research note on Thursday. They issued a “buy” rating and a $200.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $156.64.

Shares of Caterpillar (NYSE:CAT) opened at $170.41 on Friday. Caterpillar has a one year low of $90.34 and a one year high of $173.24. The stock has a market cap of $101,382.71, a PE ratio of 118.34, a P/E/G ratio of 2.08 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business posted $0.85 EPS. Caterpillar’s revenue was up 24.6% on a year-over-year basis. equities analysts predict that Caterpillar will post 6.47 earnings per share for the current fiscal year.

In other news, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the sale, the director now directly owns 6,554 shares in the company, valued at $898,487.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Insiders have sold 52,989 shares of company stock valued at $7,235,850 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Quadrant Capital Group LLC increased its stake in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 128 shares during the last quarter. Motco increased its stake in Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 718 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 900 shares during the last quarter. Blue Chip Partners Inc. bought a new position in Caterpillar in the second quarter valued at approximately $136,000. Finally, Hanson McClain Inc. increased its stake in Caterpillar by 81.1% in the second quarter. Hanson McClain Inc. now owns 1,313 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 588 shares during the last quarter. Institutional investors own 68.55% of the company’s stock.

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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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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