Citigroup Issues Positive Forecast for Caterpillar (NYSE:CAT) Stock Price

Caterpillar (NYSE:CAT) had its price target upped by Citigroup from $500.00 to $540.00 in a research note published on Monday, MarketBeat reports. They currently have a buy rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on the stock. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Barclays upped their target price on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Bank of America increased their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and an average price target of $464.33.

Caterpillar Price Performance

Shares of CAT stock opened at $470.50 on Monday. The company has a market capitalization of $220.42 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.86 and a beta of 1.41. The firm has a fifty day simple moving average of $429.02 and a 200-day simple moving average of $371.77. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar has a twelve month low of $267.30 and a twelve month high of $485.34.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $5.99 earnings per share. Equities research analysts anticipate that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAT. Kilter Group LLC bought a new position in shares of Caterpillar in the 2nd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar in the 2nd quarter worth about $28,000. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth about $32,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth about $32,000. 70.98% of the stock is currently owned by institutional investors.

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.