Caterpillar Inc. (CAT) Given Hold Rating at Bank of America Corp.
Bank of America Corp. reaffirmed their hold rating on shares of Caterpillar Inc. (NYSE:CAT) in a research report sent to investors on Monday. The brokerage currently has a $92.00 price objective on the stock.
A number of other equities analysts have also recently commented on CAT. Vetr cut shares of Caterpillar from a buy rating to a hold rating and set a $80.92 price objective for the company. in a research report on Wednesday, June 8th. Jefferies Group reaffirmed a hold rating and set a $69.00 price objective on shares of Caterpillar in a research report on Tuesday, June 21st. Zacks Investment Research cut shares of Caterpillar from a hold rating to a sell rating in a research report on Thursday, June 30th. Credit Suisse Group AG reaffirmed a buy rating and set a $87.00 price objective on shares of Caterpillar in a research report on Wednesday, July 13th. Finally, Royal Bank Of Canada lifted their price objective on shares of Caterpillar from $70.00 to $73.00 and gave the stock a sector perform rating in a research report on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Caterpillar currently has an average rating of Hold and an average price target of $73.07.
Caterpillar (NYSE:CAT) traded up 0.31% during midday trading on Monday, hitting $88.55. 424,417 shares of the stock traded hands. The stock has a market capitalization of $51.73 billion, a PE ratio of 59.03 and a beta of 1.54. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.19. The firm’s 50 day moving average is $83.25 and its 200-day moving average is $78.26.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The firm earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the previous year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. On average, analysts anticipate that Caterpillar will post $3.50 EPS for the current fiscal year.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the transaction, the insider now owns 20,232 shares in the company, valued at approximately $1,673,793.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis A. Muilenburg bought 1,930 shares of the business’s stock in a transaction on Friday, July 29th. The stock was bought at an average price of $82.75 per share, with a total value of $159,707.50. Following the purchase, the director now owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its position in shares of Caterpillar by 8.3% in the first quarter. Stratos Wealth Partners LTD. now owns 15,273 shares of the company’s stock valued at $1,169,000 after buying an additional 1,172 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Caterpillar by 11.9% in the first quarter. Teachers Advisors Inc. now owns 835,203 shares of the company’s stock valued at $63,926,000 after buying an additional 88,785 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Caterpillar by 34.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,914,299 shares of the company’s stock valued at $146,520,000 after buying an additional 495,009 shares in the last quarter. Ngam Advisors L.P. increased its position in shares of Caterpillar by 10.8% in the first quarter. Ngam Advisors L.P. now owns 129,561 shares of the company’s stock valued at $9,917,000 after buying an additional 12,594 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Caterpillar by 8,775.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 571,223 shares of the company’s stock valued at $43,721,000 after buying an additional 564,787 shares in the last quarter. Institutional investors and hedge funds own 69.03% of the company’s stock.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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