Caterpillar, Inc. (NYSE:CAT)‘s stock had its “hold” rating reiterated by Deutsche Bank AG in a research report issued on Monday. They currently have a $121.00 target price on the industrial products company’s stock, up from their prior target price of $120.00. Deutsche Bank AG’s target price indicates a potential downside of 5.61% from the company’s previous close.
CAT has been the topic of several other research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $130.00 price target on shares of Caterpillar in a research note on Friday, September 8th. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price target on the stock. in a research note on Monday, September 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $100.00 price target on shares of Caterpillar in a research note on Tuesday, August 29th. Credit Suisse Group reaffirmed a “hold” rating and issued a $133.00 price target on shares of Caterpillar in a research note on Friday, September 22nd. Finally, Bank of America Corporation set a $120.00 price target on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, June 20th. Two equities research 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. Caterpillar has a consensus rating of “Hold” and an average price target of $115.98.
Shares of Caterpillar (NYSE CAT) opened at 128.19 on Monday. The stock has a market cap of $75.76 billion, a price-to-earnings ratio of 716.15 and a beta of 1.25. Caterpillar has a 1-year low of $80.33 and a 1-year high of $128.29. The firm has a 50-day moving average price of $121.39 and a 200-day moving average price of $108.72.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the company posted $1.09 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Caterpillar will post $5.25 EPS for the current 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 stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,471 shares of company stock worth $22,979,332. 0.14% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 worth $4,430,058,000 after purchasing an additional 2,377,623 shares during the period. FMR LLC increased its holdings in Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after purchasing an additional 2,052,300 shares during the period. Morgan Stanley increased its holdings in Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after purchasing an additional 1,365,856 shares during the period. Primecap Management Co. CA increased its holdings 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 worth $673,351,000 after purchasing an additional 1,047,922 shares during the period. Finally, Geode Capital Management LLC increased its holdings 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 worth $516,423,000 after purchasing an additional 419,191 shares during the period. Institutional investors own 69.24% of the company’s stock.
Caterpillar Company Profile
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