Credit Suisse Group AG Analysts Give Caterpillar Inc. (CAT) a $90.00 Price Target
A number of other brokerages also recently issued reports on CAT. Vetr downgraded Caterpillar from a strong-buy rating to a buy rating and set a $80.77 price target for the company. in a report on Tuesday, May 31st. Citigroup Inc. reaffirmed a neutral rating and set a $75.00 price target on shares of Caterpillar in a report on Tuesday, May 31st. Zacks Investment Research downgraded Caterpillar from a hold rating to a sell rating in a report on Thursday, June 30th. RBC Capital Markets set a $73.00 price target on Caterpillar and gave the stock a hold rating in a report on Wednesday, July 27th. Finally, Jefferies Group lifted their price target on Caterpillar from $69.00 to $72.00 and gave the stock a hold rating in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Caterpillar currently has an average rating of Hold and an average price target of $72.62.
Shares of Caterpillar (NYSE:CAT) opened at 88.77 on Wednesday. The stock has a 50 day moving average price of $83.10 and a 200-day moving average price of $78.10. The stock has a market cap of $51.86 billion, a P/E ratio of 59.18 and a beta of 1.54. Caterpillar has a 52 week low of $56.36 and a 52 week high of $88.98.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. Caterpillar’s revenue was down 16.0% compared to the same quarter last year. During the same period last year, the business posted $1.27 earnings per share. Equities analysts predict that Caterpillar will post $3.50 EPS for the current fiscal year.
In related news, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dennis A. Muilenburg bought 1,930 shares of Caterpillar stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average cost 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 disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. American Money Management LLC increased its position in shares of Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock valued at $291,000 after buying an additional 11 shares during the period. Pitcairn Co. increased its position in shares of Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock valued at $250,000 after buying an additional 14 shares during the period. Pittenger & Anderson Inc. increased its position in shares of 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. Sabal Trust CO increased its position in shares of Caterpillar by 0.7% in the second quarter. Sabal Trust CO now owns 4,128 shares of the company’s stock valued at $313,000 after buying an additional 28 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Caterpillar by 0.5% in the first quarter. Fisher Asset Management LLC now owns 6,197 shares of the company’s stock valued at $491,000 after buying an additional 32 shares during the period. 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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