Caterpillar (CAT) Now Covered by Barclays
Stock analysts at Barclays began coverage on shares of Caterpillar (NYSE:CAT) in a research report issued to clients and investors on Tuesday. The brokerage set an “overweight” rating and a $162.00 price target on the industrial products company’s stock. Barclays’ price target indicates a potential upside of 12.95% from the company’s current price.
A number of other equities research analysts have also issued reports on CAT. BidaskClub lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target on the stock. in a report on Tuesday, August 22nd. Royal Bank of Canada restated a “hold” rating on shares of Caterpillar in a report on Tuesday, August 29th. Jefferies Group restated a “hold” rating and set a $100.00 price target on shares of Caterpillar in a report on Tuesday, August 29th. Finally, ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $139.14.
Caterpillar (NYSE CAT) traded down $0.35 during midday trading on Tuesday, hitting $143.42. 3,397,000 shares of the company were exchanged, compared to its average volume of 4,357,071. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. Caterpillar has a twelve month low of $90.34 and a twelve month high of $145.19. The company has a market cap of $85,533.62, a P/E ratio of 25.91, a P/E/G ratio of 2.16 and a beta of 1.29.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. analysts forecast that Caterpillar will post 6.44 EPS for the current year.
In other Caterpillar news, insider Bradley M. Halverson sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $137.67, for a total value of $357,942.00. Following the completion of the sale, the insider now directly owns 5,214 shares of the company’s stock, valued at $717,811.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the completion of the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The disclosure for this sale can be found here. Insiders have sold 52,989 shares of company stock worth $7,235,850 over the last ninety days. 0.14% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Beach Investment Management LLC. bought a new stake in Caterpillar in the second quarter worth approximately $231,000. NGAM Advisors L.P. grew its position in Caterpillar by 2.9% in the second quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after acquiring an additional 2,286 shares in the last quarter. Bank of Nova Scotia grew its position in Caterpillar by 527.0% in the first quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after acquiring an additional 164,989 shares in the last quarter. Wealthsource Partners LLC bought a new stake in Caterpillar in the second quarter worth approximately $316,000. Finally, Point72 Asset Management L.P. bought a new stake in Caterpillar in the first quarter worth approximately $46,917,000. 68.61% of the stock is owned by institutional investors.
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Caterpillar Company Profile
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