Caterpillar, Inc. (NYSE:CAT) was upgraded by equities researchers at Vetr from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday. The brokerage currently has a $124.44 price target on the industrial products company’s stock. Vetr‘s target price points to a potential downside of 2.93% from the company’s previous close.
Other analysts also recently issued reports about the company. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Thursday, July 13th. Citigroup Inc. increased their price target on Caterpillar from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Tigress Financial reiterated a “buy” rating on shares of Caterpillar in a report on Monday, September 18th. Finally, Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $115.98.
Shares of Caterpillar (CAT) traded up 1.03% on Tuesday, hitting $128.19. Caterpillar has a 52-week low of $80.33 and a 52-week high of $128.29. The firm has a market cap of $75.76 billion, a P/E ratio of 716.15 and a beta of 1.25. The firm has a 50 day moving average of $121.39 and a 200-day moving average of $108.72.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the business posted $1.09 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar will post $5.25 EPS for the current year.
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In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of Caterpillar 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 completion of the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock valued at $22,979,332 in the last quarter. Company insiders own 0.14% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Caterpillar by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares during the last quarter. FMR LLC boosted its stake in Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares during the last quarter. Morgan Stanley boosted its stake in Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the last quarter. Primecap Management Co. CA boosted its stake in Caterpillar by 16.9% during the 1st quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after purchasing an additional 1,047,922 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Caterpillar by 8.1% during the 1st quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after purchasing an additional 419,191 shares during the last quarter. Institutional investors and hedge funds own 69.24% of the company’s stock.
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