Caterpillar (NYSE:CAT) Price Target Raised to $340.00

Caterpillar (NYSE:CAT) had its price target lifted by analysts at TD Cowen from $338.00 to $340.00 in a report issued on Friday, Briefing.com reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. TD Cowen’s price objective points to a potential upside of 0.52% from the stock’s previous close.

CAT has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Robert W. Baird boosted their price target on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Evercore ISI downgraded shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Morgan Stanley started coverage on shares of Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $310.83.

Caterpillar Price Performance

Shares of CAT stock opened at $338.24 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. The firm’s 50-day moving average is $349.67 and its two-hundred day moving average is $300.30. Caterpillar has a 12 month low of $204.04 and a 12 month high of $382.01. The company has a market capitalization of $168.92 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. Analysts predict that Caterpillar will post 21.3 earnings per share for the current year.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now owns 57,317 shares in the company, valued at approximately $17,774,001.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The disclosure for this sale can be found here. Insiders sold 35,769 shares of company stock worth $11,508,906 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

Several hedge funds have recently added to or reduced their stakes in the business. Partnership Wealth Management LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the 4th quarter worth about $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Caterpillar during the 1st quarter worth about $27,000. Gilfoyle & Co LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $30,000. Finally, Vima LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $30,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.