Caterpillar, Inc. (CAT) Raised to “Buy” at Vetr Inc.
Caterpillar, Inc. (NYSE:CAT) was upgraded by equities research analysts at Vetr from a “strong sell” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $120.03 price objective on the industrial products company’s stock. Vetr‘s price target indicates a potential upside of 6.08% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. UBS AG reaffirmed a “neutral” rating and set a $102.00 price target (up previously from $98.00) on shares of Caterpillar in a research report on Friday, April 28th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Tuesday, June 6th. Citigroup Inc. upped their price target on shares of Caterpillar from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $101.00 price target on shares of Caterpillar in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Caterpillar currently has an average rating of “Hold” and an average target price of $107.15.
Shares of Caterpillar (NYSE CAT) traded down 1.04% during mid-day trading on Thursday, hitting $113.15. 3,186,723 shares of the stock were exchanged. The company has a 50-day moving average of $109.51 and a 200 day moving average of $101.06. The stock has a market cap of $66.87 billion, a PE ratio of 632.12 and a beta of 1.25. Caterpillar has a one year low of $79.93 and a one year high of $115.46.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Caterpillar will post $5.24 earnings per share for the current year.
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In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the sale, the insider now directly owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock worth $22,979,332 over the last quarter. 0.15% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Howe & Rusling Inc. boosted its stake in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares during the period. Baker Ellis Asset Management LLC acquired a new stake in shares of Caterpillar during the second quarter worth $104,000. Motco boosted its stake in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after buying an additional 718 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth $107,000. Finally, First Personal Financial Services boosted its stake in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after buying an additional 750 shares during the period. 70.53% of the stock is currently owned by institutional investors.
To view Vetr’s full report, visit Vetr’s official website.
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