Caterpillar Inc. (NYSE:CAT) Given Consensus Recommendation of “Hold” by Analysts
Shares of Caterpillar Inc. (NYSE:CAT) have earned an average recommendation of “Hold” from the twenty-eight brokerages that are covering the stock. Three investment analysts have rated the stock with a sell recommendation, sixteen have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $72.49.
Several equities research analysts recently commented on CAT shares. Vetr cut Caterpillar from a “buy” rating to a “hold” rating and set a $80.92 price target for the company. in a research note on Wednesday, June 8th. Jefferies Group reissued a “hold” rating and issued a $69.00 price target on shares of Caterpillar in a research note on Tuesday, June 21st. Zacks Investment Research cut Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Credit Suisse Group AG reissued a “buy” rating and issued a $87.00 price target on shares of Caterpillar in a research note on Wednesday, July 13th. Finally, Royal Bank Of Canada boosted their price target on Caterpillar from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th.
In other news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the sale, the insider now owns 20,232 shares in the company, valued at $1,673,793.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis A. Muilenburg bought 1,930 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the acquisition, the director now directly owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. American Money Management LLC raised its position in shares of Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock valued at $291,000 after buying an additional 11 shares during the period. Pitcairn Co. raised its position in shares of Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock valued at $250,000 after buying an additional 14 shares during the period. Pittenger & Anderson Inc. raised its position in shares of Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares during the period. Sabal Trust CO raised its position in shares of Caterpillar by 0.7% in the second quarter. Sabal Trust CO now owns 4,128 shares of the company’s stock valued at $313,000 after buying an additional 28 shares during the period. Finally, St. Johns Investment Management Company LLC raised its position in shares of Caterpillar by 0.5% in the second quarter. St. Johns Investment Management Company LLC now owns 7,643 shares of the company’s stock valued at $579,000 after buying an additional 36 shares during the period. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar (NYSE:CAT) traded down 0.28% during trading on Tuesday, reaching $88.03. 2,227,902 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $83.25 and its 200-day moving average price is $78.26. Caterpillar has a 52-week low of $56.36 and a 52-week high of $89.19. The company has a market capitalization of $51.43 billion, a price-to-earnings ratio of 58.69 and a beta of 1.54.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The business earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. Equities analysts expect that Caterpillar will post $3.50 earnings per share for the current year.
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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