Caterpillar Inc. (NYSE:CAT) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $96.01 price objective on the stock. Vetr‘s price target suggests a potential upside of 9.76% from the stock’s current price.

CAT has been the topic of a number of other research reports. Jefferies Group restated a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 3rd. Citigroup Inc. increased their price target on shares of Caterpillar from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research note on Tuesday, August 30th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $87.00 price target on shares of Caterpillar in a research note on Wednesday, July 13th. Finally, Deutsche Bank AG initiated coverage on shares of Caterpillar in a research note on Tuesday, September 6th. They set a “buy” rating and a $72.56 price target on the stock. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $75.27.

Analyst Recommendations for Caterpillar (NYSE:CAT)

Caterpillar (NYSE:CAT) opened at 87.47 on Wednesday. The company’s 50 day moving average is $84.01 and its 200-day moving average is $78.81. The firm has a market cap of $51.10 billion, a P/E ratio of 58.31 and a beta of 1.54. Caterpillar has a 52 week low of $56.36 and a 52 week high of $89.87.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (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 had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the business earned $1.27 earnings per share. Caterpillar’s revenue was down 16.0% compared to the same quarter last year. Equities analysts expect that Caterpillar will post $3.50 earnings per share for the current year.

In related news, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now directly owns 20,232 shares in the company, valued at approximately $1,673,793.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis A. Muilenburg bought 1,930 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was acquired at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CAT. Pittenger & Anderson Inc. increased its stake in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock worth $100,000 after buying an additional 25 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA increased its stake in Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock worth $115,000 after buying an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in 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 worth $115,000 after buying an additional 1,100 shares during the last quarter. CapWealth Advisors LLC increased its stake in Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock worth $128,000 after buying an additional 100 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its stake in Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock worth $128,000 after buying an additional 1,581 shares during 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.

5 Day Chart for NYSE:CAT

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