Caterpillar (NYSE:CAT) Price Target Raised to $740.00

by · The Cerbat Gem

Caterpillar (NYSE:CAT – Get Free Report) had its price objective lifted by analysts at JPMorgan Chase & Co. from $730.00 to $740.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 16.32% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective on the stock. HSBC upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and increased their target price for the stock from $405.00 to $660.00 in a report on Wednesday, November 5th. Finally, Wolfe Research lifted their price target on shares of Caterpillar from $470.00 to $670.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.20.

View Our Latest Stock Analysis on Caterpillar

Caterpillar Stock Down 0.1%

Shares of NYSE:CAT traded down $0.37 during trading on Wednesday, hitting $636.16. 957,694 shares of the company’s stock traded hands, compared to its average volume of 2,315,141. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $582.28 and a 200-day moving average price of $498.31. Caterpillar has a 52 week low of $267.30 and a 52 week high of $644.59. The company has a market cap of $297.71 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.57.

Caterpillar (NYSE:CAT – Get Free Report) last announced its earnings results on Monday, November 3rd. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $5.17 EPS. As a group, research analysts forecast that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. The trade was a 55.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the completion of the transaction, the insider directly owned 41,512 shares in the company, valued at $23,669,312.16. The trade was a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 54,729 shares of company stock worth $31,084,308 in the last three months. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Caterpillar

Hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its holdings in shares of Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares in the last quarter. Norges Bank acquired a new stake in Caterpillar in the second quarter valued at about $2,165,899,000. Wellington Management Group LLP grew its position in Caterpillar by 3,949.8% in the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after acquiring an additional 5,098,964 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Caterpillar by 1,851.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock worth $873,382,000 after acquiring an additional 1,736,631 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after acquiring an additional 712,711 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Company Profile

(Get Free Report)

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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