Goldman Sachs Group Increases Caterpillar (NYSE:CAT) Price Target to $156.00

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Caterpillar (NYSE:CAT) had its price objective boosted by Goldman Sachs Group from $130.00 to $156.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Goldman Sachs Group’s price target suggests a potential upside of 5.29% from the company’s current price.

A number of other analysts also recently weighed in on CAT. Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a research report on Monday, September 30th. Wells Fargo & Co downgraded Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price for the company. in a research report on Wednesday, September 11th. ValuEngine upgraded Caterpillar from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. UBS Group cut their target price on Caterpillar to $110.00 and set a “sell” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $138.76.

CAT traded up $1.15 during trading on Friday, hitting $148.16. The stock had a trading volume of 2,714,785 shares, compared to its average volume of 4,321,513. The company has a 50 day moving average price of $131.66 and a 200-day moving average price of $129.08. The firm has a market cap of $80.89 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.54 and a beta of 1.53. Caterpillar has a one year low of $111.75 and a one year high of $148.40. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.44 and a quick ratio of 0.99.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.16). The company had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $13.49 billion. Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.86 earnings per share. As a group, sell-side analysts predict that Caterpillar will post 10.89 EPS for the current fiscal year.

In other news, insider Denise C. Johnson sold 68,993 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $146.37, for a total transaction of $10,098,505.41. Also, insider Denise C. Johnson sold 4,172 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $146.67, for a total value of $611,907.24. The disclosure for this sale can be found here. Insiders have sold a total of 95,141 shares of company stock valued at $13,717,142 in the last three months. 0.37% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Tortoise Investment Management LLC increased its holdings in Caterpillar by 3,600.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in Caterpillar in the 2nd quarter worth about $27,000. Private Ocean LLC increased its holdings in Caterpillar by 62.9% in the 3rd quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. G&S Capital LLC acquired a new position in Caterpillar in the 3rd quarter worth about $38,000. Finally, Kavar Capital Partners LLC acquired a new position in Caterpillar in the 2nd quarter worth about $46,000. 65.74% of the stock is owned by institutional investors.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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