Vetr Inc. Upgrades Caterpillar Inc. (CAT) to Buy
A number of other research analysts have also recently commented on the company. Deutsche Bank AG began coverage on Caterpillar in a report on Monday, September 12th. They issued a buy rating and a $82.08 price target on the stock. Axiom Securities reissued a sell rating and issued a $31.00 price target on shares of Caterpillar in a report on Thursday, September 8th. Wells Fargo & Co. reissued a market perform rating and issued a $78.50 price target on shares of Caterpillar in a report on Tuesday, August 23rd. Citigroup Inc. set a $82.00 price target on Caterpillar and gave the stock a hold rating in a report on Tuesday, August 16th. Finally, Jefferies Group reissued a hold rating and issued a $72.00 price target on shares of Caterpillar in a report on Friday, August 12th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. Caterpillar presently has an average rating of Hold and an average price target of $72.24.
Shares of Caterpillar (NYSE:CAT) opened at 82.05 on Tuesday. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of 54.70 and a beta of 1.64. Caterpillar has a 52 week low of $56.36 and a 52 week high of $84.73. The company has a 50-day moving average price of $82.95 and a 200-day moving average price of $76.79.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the previous year, the firm earned $1.27 EPS. The firm’s revenue was down 16.0% compared to the same quarter last year. Equities analysts anticipate that Caterpillar will post $3.50 EPS for the current year.
In other Caterpillar news, Director Dennis A. Muilenburg bought 1,930 shares of Caterpillar stock in a transaction that occurred on Friday, July 29th. The shares were bought at an average cost of $82.75 per share, with a total value of $159,707.50. Following the transaction, the director now directly owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $235,035.93. Following the transaction, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CAT. CHICAGO TRUST Co NA raised its position in shares of Caterpillar by 19.6% in the first quarter. CHICAGO TRUST Co NA now owns 18,797 shares of the company’s stock worth $1,438,000 after buying an additional 3,077 shares in the last quarter. Charter Trust Co. raised its position in shares of Caterpillar by 6.2% in the first quarter. Charter Trust Co. now owns 77,291 shares of the company’s stock worth $5,916,000 after buying an additional 4,527 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Caterpillar during the first quarter worth $1,014,000. Rathbone Brothers plc raised its position in shares of Caterpillar by 12.7% in the first quarter. Rathbone Brothers plc now owns 23,048 shares of the company’s stock worth $1,764,000 after buying an additional 2,590 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Caterpillar by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 498,872 shares of the company’s stock worth $38,184,000 after buying an additional 12,530 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
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.
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