Caterpillar (NYSE:CAT) PT Raised to $435.00

Caterpillar (NYSE:CAT) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $385.00 to $435.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.49% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. The Goldman Sachs Group raised their price objective on Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Morgan Stanley assumed coverage on Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. Truist Financial assumed coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Wells Fargo & Company lifted their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Robert W. Baird lifted their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average target price of $307.56.

Caterpillar Trading Down 0.8 %

Shares of CAT stock traded down $2.88 during mid-day trading on Tuesday, reaching $361.03. 371,404 shares of the stock traded hands, compared to its average volume of 2,405,770. The stock’s fifty day simple moving average is $343.80 and its two-hundred day simple moving average is $295.74. Caterpillar has a 1-year low of $204.04 and a 1-year high of $382.01. The company has a market cap of $180.30 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. During the same period last year, the firm posted $3.86 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts anticipate that Caterpillar will post 21.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,769 shares of company stock valued at $14,509,306. Insiders own 0.33% of the company’s stock.

Institutional Trading of Caterpillar

A number of hedge funds have recently added to or reduced their stakes in CAT. Atlas Capital Advisors LLC raised its position in Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Aspect Partners LLC acquired a new position in Caterpillar during the fourth quarter worth $25,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 95 shares during the period. Partnership Wealth Management LLC acquired a new position in Caterpillar during the fourth quarter worth $26,000. Finally, Richardson Financial Services Inc. acquired a new position in Caterpillar during the fourth quarter worth $27,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.