Caterpillar Inc. (CAT) Price Target Raised to $90.00 at Barclays PLC
Caterpillar Inc. (NYSE:CAT) had its target price boosted by investment analysts at Barclays PLC from $78.00 to $90.00 in a research note issued to investors on Wednesday. The firm presently has an “equal weight” rating on the stock. Barclays PLC’s target price points to a potential upside of 2.89% from the company’s previous close.
Several other research analysts also recently issued reports on the stock. Vetr upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $96.01 price target for the company in a report on Wednesday. Jefferies Group upped their price target on shares of Caterpillar from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday. Goldman Sachs Group Inc. upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and upped their price target for the stock from $76.00 to $112.00 in a report on Tuesday. Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Finally, Bank of America Corp. reiterated a “hold” rating and set a $92.00 price target on shares of Caterpillar in a report on Monday, October 3rd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $76.23.
Caterpillar (NYSE:CAT) remained flat at $87.47 during midday trading on Wednesday. 877,239 shares of the company’s stock were exchanged. The firm has a market cap of $51.10 billion, a PE ratio of 58.31 and a beta of 1.54. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.87. The stock’s 50 day moving average price is $84.01 and its 200-day moving average price is $78.81.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.13. The company earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. Equities research analysts expect that Caterpillar will post $3.50 earnings per share for the current fiscal year.
In other news, Director Dennis A. Muilenburg acquired 1,930 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was purchased at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the purchase, the director now owns 9,558 shares in the company, valued at approximately $790,924.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Pittenger & Anderson Inc. raised its stake in 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. Kelly Lawrence W & Associates Inc. CA raised its stake in shares of Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock valued at $115,000 after buying an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Caterpillar by 266.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,513 shares of the company’s stock valued at $115,000 after buying an additional 1,100 shares during the last quarter. CapWealth Advisors LLC raised its stake in shares of Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock valued at $128,000 after buying an additional 100 shares during the last quarter. Finally, Archford Capital Strategies LLC raised its stake in shares of Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock valued at $128,000 after buying an additional 1,581 shares during the last quarter. Hedge funds and other institutional investors 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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