Caterpillar (NYSE:CAT) PT Raised to $500.00

Caterpillar (NYSE:CAT) had its target price hoisted by JPMorgan Chase & Co. from $435.00 to $500.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 28.85% from the stock’s current price.

CAT has been the subject of a number of other research reports. Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Citigroup boosted their target price on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $355.50.

Caterpillar Price Performance

NYSE:CAT opened at $388.05 on Monday. Caterpillar has a 1-year low of $223.76 and a 1-year high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $360.22 and a 200 day simple moving average of $349.61. The stock has a market capitalization of $189.78 billion, a PE ratio of 17.52, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the previous year, the business posted $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that Caterpillar will post 21.91 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Caterpillar

Institutional investors have recently added to or reduced their stakes in the stock. Thompson Investment Management Inc. bought a new stake in Caterpillar in the first quarter valued at approximately $27,000. Fairman Group LLC bought a new stake in Caterpillar in the first quarter valued at approximately $29,000. Bbjs Financial Advisors LLC bought a new stake in Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar in the second quarter valued at approximately $28,000. Finally, Richardson Financial Services Inc. bought a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. 70.98% of the stock is currently owned by 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.