Caterpillar (NYSE:CAT) Price Target Increased to $245.00 by Analysts at Stifel Nicolaus

Caterpillar (NYSE:CAT) had its price objective upped by equities research analysts at Stifel Nicolaus from $222.00 to $245.00 in a research note issued on Monday, The Fly reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 4.97% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Caterpillar from $205.00 to $237.00 and gave the company an “overweight” rating in a research note on Wednesday, March 3rd. Daiwa Capital Markets cut Caterpillar from an “outperform” rating to a “neutral” rating in a research note on Friday, March 5th. Jefferies Financial Group boosted their price target on Caterpillar from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, January 15th. Morgan Stanley boosted their price target on Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a research note on Friday, April 30th. Finally, Wolfe Research began coverage on Caterpillar in a research note on Monday, April 19th. They issued an “outperform” rating and a $265.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $205.37.

Shares of NYSE:CAT opened at $233.41 on Monday. Caterpillar has a 12-month low of $100.22 and a 12-month high of $237.78. The stock has a market cap of $127.28 billion, a PE ratio of 38.84, a P/E/G ratio of 2.14 and a beta of 0.97. The business has a 50 day moving average of $229.79 and a 200-day moving average of $197.22. The company has a quick ratio of 1.08, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 29th. The industrial products company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that Caterpillar will post 5.44 earnings per share for the current year.

In related news, insider Denise C. Johnson sold 80,695 shares of the stock in a transaction on Monday, March 8th. The stock was sold at an average price of $219.82, for a total value of $17,738,374.90. Following the completion of the sale, the insider now directly owns 38,945 shares in the company, valued at $8,560,889.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gary Michael Marvel sold 5,056 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $220.97, for a total value of $1,117,224.32. Following the completion of the sale, the chief accounting officer now owns 5,623 shares of the company’s stock, valued at $1,242,514.31. The disclosure for this sale can be found here. Insiders have sold 145,062 shares of company stock valued at $31,884,447 over the last quarter. Company insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Partners Group Inc acquired a new stake in Caterpillar in the first quarter valued at $208,000. Acas LLC acquired a new stake in Caterpillar in the first quarter valued at $332,000. D.B. Root & Company LLC acquired a new stake in Caterpillar in the first quarter valued at $203,000. Bingham Osborn & Scarborough LLC boosted its position in Caterpillar by 8.1% during the first quarter. Bingham Osborn & Scarborough LLC now owns 1,561 shares of the industrial products company’s stock valued at $362,000 after acquiring an additional 117 shares during the last quarter. Finally, Hamel Associates Inc. boosted its position in Caterpillar by 6.5% during the first quarter. Hamel Associates Inc. now owns 1,650 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 67.48% of the company’s stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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