Caterpillar’s (CAT) Hold Rating Reaffirmed at Jefferies Group
Caterpillar Inc. (NYSE:CAT)‘s stock had its “hold” rating restated by investment analysts at Jefferies Group in a research note issued on Thursday. They presently have a $72.00 price objective on the stock. Jefferies Group’s price target would indicate a potential downside of 13.74% from the company’s previous close.
CAT has been the subject of several other research reports. RBC Capital Markets set a $73.00 price target on shares of Caterpillar and gave the stock a “hold” rating in a report on Wednesday, July 27th. Morgan Stanley reiterated a “hold” rating and set a $67.00 price target on shares of Caterpillar in a report on Thursday, July 28th. Zacks Investment Research cut shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, June 30th. Citigroup Inc. set a $82.00 price target on shares of Caterpillar and gave the stock a “hold” rating in a report on Tuesday, August 16th. Finally, Vetr cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating and set a $80.77 price target for the company. in a report on Tuesday, May 31st. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.24.
Shares of Caterpillar (NYSE:CAT) opened at 83.47 on Thursday. Caterpillar has a 52-week low of $56.36 and a 52-week high of $84.73. The firm has a 50-day moving average of $82.66 and a 200-day moving average of $77.52. The company has a market cap of $48.77 billion, a P/E ratio of 55.65 and a beta of 1.64.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. Equities research analysts forecast that Caterpillar will post $3.50 earnings per share for the current year.
In other news, Director Dennis A. Muilenburg bought 1,930 shares of Caterpillar stock in a transaction on Friday, July 29th. The shares were bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the acquisition, the director now owns 9,558 shares in the company, valued at $790,924.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the transaction, the insider now owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Pittenger & Anderson Inc. raised its position in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock worth $100,000 after buying an additional 25 shares during the period. Kelly Lawrence W & Associates Inc. CA raised its position in Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock worth $115,000 after buying an additional 200 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Caterpillar by 266.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,513 shares of the company’s stock worth $115,000 after buying an additional 1,100 shares during the period. CapWealth Advisors LLC raised its position in Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock worth $128,000 after buying an additional 100 shares during the period. Finally, Archford Capital Strategies LLC raised its position in Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock worth $128,000 after buying an additional 1,581 shares during the period. Institutional investors own 69.03% of the company’s stock.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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