Citigroup Reaffirms Neutral Rating for Caterpillar (CAT)
Caterpillar (NYSE:CAT)‘s stock had its “neutral” rating reissued by investment analysts at Citigroup in a research report issued to clients and investors on Friday. They presently have a $185.00 target price on the industrial products company’s stock, up from their previous target price of $160.00. Citigroup’s target price points to a potential upside of 8.99% from the stock’s previous close.
Several other research analysts have also weighed in on the company. BMO Capital Markets increased their target price on Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Vetr lowered Caterpillar from a “hold” rating to a “sell” rating and set a $137.72 target price on the stock. in a research report on Thursday, December 7th. Goldman Sachs Group increased their target price on Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. OTR Global lowered Caterpillar to a “positive” rating in a research report on Monday, December 18th. Finally, UBS Group set a $155.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Tuesday, December 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $156.03.
Shares of Caterpillar (NYSE CAT) traded up $1.69 on Friday, hitting $169.74. The company had a trading volume of 1,100,000 shares, compared to its average volume of 4,180,000. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. The stock has a market cap of $100,980.00, a price-to-earnings ratio of 117.88, a P/E/G ratio of 2.08 and a beta of 1.29. Caterpillar has a twelve month low of $90.34 and a twelve month high of $173.24.
In related news, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the transaction, the insider now directly owns 11,096 shares in the company, valued at $1,526,587.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of Caterpillar stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,989 shares of company stock worth $7,235,850. Corporate insiders own 0.14% of the company’s stock.
A number of large investors have recently bought and sold shares of CAT. Vanguard Group Inc. grew its stake in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after purchasing an additional 2,377,623 shares in the last quarter. FMR LLC boosted its stake in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after acquiring an additional 2,052,300 shares during the period. Jennison Associates LLC boosted its stake in Caterpillar by 140.9% in the third quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock valued at $327,653,000 after acquiring an additional 1,536,470 shares during the period. Balyasny Asset Management LLC boosted its stake in Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after acquiring an additional 1,216,053 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Caterpillar by 61.7% in the second quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock valued at $268,768,000 after acquiring an additional 954,200 shares during the period. Institutional investors and hedge funds own 68.55% of the company’s stock.
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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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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