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.
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.
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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