Caterpillar (NYSE:CAT) has been assigned a $158.00 target price by research analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday. The brokerage currently has a “hold” rating on the industrial products company’s stock. Robert W. Baird’s target price indicates a potential upside of 9.39% from the company’s previous close.
CAT has been the subject of a number of other research reports. Vetr raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.44 price target for the company in a report on Monday, January 29th. Bank of America reaffirmed a “buy” rating and issued a $189.00 price target (up previously from $158.00) on shares of Caterpillar in a report on Friday, January 12th. Buckingham Research began coverage on shares of Caterpillar in a report on Wednesday, April 11th. They issued a “buy” rating and a $170.00 price target for the company. ValuEngine raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Monday, April 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $168.29.
Shares of NYSE:CAT opened at $144.44 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. Caterpillar has a 12 month low of $97.74 and a 12 month high of $173.24. The stock has a market capitalization of $92,028.40, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30.
In other Caterpillar news, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total value of $84,722.88. Following the completion of the sale, the general counsel now directly owns 19,646 shares in the company, valued at $3,152,397.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas A. Pellette sold 95,199 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the sale, the insider now owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CAT. Gradient Investments LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd acquired a new stake in Caterpillar in the fourth quarter valued at approximately $131,000. Clearbridge LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $140,000. Aevitas Wealth Management Inc. acquired a new stake in Caterpillar in the fourth quarter valued at approximately $143,000. Finally, Sandy Spring Bank boosted its stake in Caterpillar by 61.9% in the fourth quarter. Sandy Spring Bank now owns 981 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 375 shares in the last quarter. Institutional investors own 69.23% of the company’s stock.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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