The Goldman Sachs Group Boosts Caterpillar (NYSE:CAT) Price Target to $408.00

Caterpillar (NYSE:CAT) had its target price upped by analysts at The Goldman Sachs Group from $357.00 to $408.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 13.01% from the company’s current price.

Several other research firms have also commented on CAT. Citigroup lifted their price target on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company boosted their target price on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. StockNews.com lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. TD Cowen boosted their price target on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus boosted their price target on shares of Caterpillar from $285.00 to $293.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $307.56.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $2.88 during midday trading on Tuesday, hitting $361.03. The company’s stock had a trading volume of 371,404 shares, compared to its average volume of 2,405,770. Caterpillar has a 1-year low of $204.04 and a 1-year high of $382.01. The firm’s fifty day moving average price is $343.80 and its 200-day moving average price is $295.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The firm has a market cap of $180.30 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.63 and a beta of 1.17.

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

Insider Activity

In related news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David Maclennan bought 350 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold 45,769 shares of company stock worth $14,509,306 over the last ninety days. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Institutional investors have recently modified their holdings of the business. Atlas Capital Advisors LLC boosted its position in shares of Caterpillar by 272.4% in the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Aspect Partners LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $25,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 95 shares during the period. Partnership Wealth Management LLC bought a new stake in Caterpillar during the fourth quarter worth about $26,000. Finally, Richardson Financial Services Inc. bought a new stake in Caterpillar during the fourth quarter worth about $27,000. Institutional investors own 70.98% of the company’s stock.

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.