Caterpillar, Inc. (CAT) Hits New 1-Year High After Analyst Upgrade

Caterpillar, Inc. (NYSE:CAT)’s share price hit a new 52-week high during mid-day trading on Tuesday after Vetr upgraded the stock from a sell rating to a hold rating. Vetr now has a $124.44 price target on the stock. Caterpillar traded as high as $128.20 and last traded at $128.21, with a volume of 1,683,666 shares traded. The stock had previously closed at $126.88.

A number of other brokerages have also recently issued reports on CAT. Goldman Sachs Group, Inc. (The) increased their target price on Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank AG reiterated a “hold” rating and issued a $121.00 target price (up from $120.00) on shares of Caterpillar in a report on Monday. Credit Suisse Group reiterated a “hold” rating and issued a $133.00 target price on shares of Caterpillar in a report on Friday, September 22nd. ValuEngine cut Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $115.98.

In other news, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The disclosure for this sale can be found here. Insiders sold a total of 201,471 shares of company stock valued at $22,979,332 over the last three months. 0.14% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Caterpillar by 10.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares during the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at $104,000. Motco increased its position in shares of Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at $107,000. Finally, Acrospire Investment Management LLC increased its position in shares of Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. 69.24% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $75.76 billion, a PE ratio of 716.15 and a beta of 1.25. The stock’s 50 day moving average is $121.39 and its 200 day moving average is $108.72.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. On average, equities research analysts predict that Caterpillar, Inc. will post $5.25 earnings per share for the current year.

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