Caterpillar, Inc. (CAT) Price Target Increased to $150.00 by Analysts at BMO Capital Markets
Caterpillar, Inc. (NYSE:CAT) had its price target increased by BMO Capital Markets from $130.00 to $150.00 in a research report report published on Thursday morning. BMO Capital Markets currently has an outperform rating on the industrial products company’s stock.
A number of other research analysts have also weighed in on the stock. Jefferies Group LLC reissued a hold rating and set a $100.00 target price on shares of Caterpillar in a research report on Tuesday, August 29th. Royal Bank Of Canada reissued a hold rating on shares of Caterpillar in a research report on Tuesday, August 29th. Vetr lowered shares of Caterpillar from a buy rating to a hold rating and set a $122.53 target price for the company. in a research report on Monday, September 4th. Axiom Securities reissued a sell rating on shares of Caterpillar in a research report on Friday, June 16th. Finally, Bank of America Corporation reissued a buy rating and set a $135.00 target price (up previously from $120.00) on shares of Caterpillar in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Caterpillar presently has an average rating of Hold and a consensus price target of $111.74.
Shares of Caterpillar (CAT) traded up 0.74% during mid-day trading on Thursday, hitting $121.37. The stock had a trading volume of 4,555,237 shares. Caterpillar has a 52 week low of $80.33 and a 52 week high of $121.57. The stock has a 50-day moving average price of $115.54 and a 200 day moving average price of $104.50. The stock has a market cap of $71.73 billion, a P/E ratio of 678.04 and a beta of 1.24.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Caterpillar’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar will post $5.24 EPS for the current fiscal year.
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In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated 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 201,471 shares of company stock worth $22,979,332 over the last ninety days. Insiders own 0.15% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Baker Ellis Asset Management LLC bought a new stake in Caterpillar during the second quarter worth about $104,000. Motco grew its stake in Caterpillar by 264.9% during 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 last quarter. Acrospire Investment Management LLC grew its stake in Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after buying an additional 900 shares during the last quarter. Reilly Financial Advisors LLC grew its stake in Caterpillar by 92.9% during the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock worth $119,000 after buying an additional 535 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Caterpillar during the first quarter worth about $107,000. 69.23% of the stock is currently owned by hedge funds and other institutional investors.
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