Vetr Inc. Upgrades Caterpillar Inc. (CAT) to Buy
Several other analysts have also issued reports on the stock. Deutsche Bank AG initiated coverage on shares of Caterpillar in a research note on Monday, September 12th. They issued a buy rating and a $82.08 target price for the company. Axiom Securities reiterated a sell rating and issued a $31.00 target price on shares of Caterpillar in a research note on Thursday, September 8th. Wells Fargo & Co. reiterated a market perform rating and issued a $78.50 target price on shares of Caterpillar in a research note on Tuesday, August 23rd. Citigroup Inc. set a $82.00 target price on shares of Caterpillar and gave the stock a hold rating in a research note on Tuesday, August 16th. Finally, Jefferies Group reiterated a hold rating and issued a $72.00 target price on shares of Caterpillar in a research note on Friday, August 12th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $72.24.
Caterpillar (NYSE:CAT) opened at 82.05 on Tuesday. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of 54.70 and a beta of 1.64. The company’s 50-day moving average is $82.95 and its 200-day moving average is $76.79. Caterpillar has a 52-week low of $56.36 and a 52-week high of $84.73.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.13. The business earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. Caterpillar’s quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. On average, analysts expect that Caterpillar will post $3.50 earnings per share for the current fiscal year.
In related news, Director Dennis A. Muilenburg acquired 1,930 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was purchased at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now owns 9,558 shares in the company, valued at approximately $790,924.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. raised its stake 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 stake 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 stake 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 stake 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 stake 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. 69.03% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.