Vetr upgraded shares of Caterpillar, Inc. (NYSE:CAT) from a sell rating to a hold rating in a report released on Tuesday. They currently have $124.44 price objective on the industrial products company’s stock.
A number of other equities research analysts also recently weighed in on the company. Goldman Sachs Group, Inc. (The) raised their price target on Caterpillar from $143.00 to $158.00 and gave the company a buy rating in a research report on Monday. Deutsche Bank AG restated a hold rating and set a $121.00 price target (up previously from $120.00) on shares of Caterpillar in a research report on Monday. ValuEngine downgraded Caterpillar from a buy rating to a hold rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded Caterpillar from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. Finally, Credit Suisse Group restated a hold rating and set a $133.00 price target on shares of Caterpillar in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $115.98.
Shares of Caterpillar (CAT) opened at 128.19 on Tuesday. The company has a market cap of $75.76 billion, a price-to-earnings ratio of 716.15 and a beta of 1.26. The company’s 50-day moving average price is $121.39 and its 200-day moving average price is $108.72. Caterpillar has a 12 month low of $80.33 and a 12 month high of $128.29.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts anticipate that Caterpillar will post $5.25 EPS for the current year.
In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,471 shares of company stock worth $22,979,332. Insiders own 0.14% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. NGAM Advisors L.P. boosted its position in shares of Caterpillar by 2.9% in the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after purchasing an additional 2,286 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Caterpillar by 527.0% in the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after purchasing an additional 164,989 shares in the last quarter. Bancorpsouth Inc. boosted its position in shares of Caterpillar by 1.2% in the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 69 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $46,917,000. Finally, State of Tennessee Treasury Department boosted its position in shares of Caterpillar by 58.4% in the 1st quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock worth $26,746,000 after purchasing an additional 106,270 shares in the last quarter. 69.24% of the stock is currently owned by hedge funds and other institutional investors.
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