Posted by admin on Apr 29th, 2022

Caterpillar (NYSE:CAT – Get Rating) had its price target dropped by research analysts at Deutsche Bank Aktiengesellschaft from $250.00 to $240.00 in a research report issued to clients and investors on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 12.97% from the company’s previous close.

CAT has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Tigress Financial lifted their price objective on Caterpillar from $270.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, February 3rd. Wells Fargo & Company assumed coverage on Caterpillar in a research note on Friday, March 11th. They set an “equal weight” rating and a $231.00 price objective for the company. Barclays lifted their price objective on Caterpillar from $220.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, January 13th. Finally, Jefferies Financial Group upgraded Caterpillar from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $260.00 in a research note on Tuesday, March 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $240.76.

Shares of CAT opened at $212.44 on Friday. The stock has a 50-day moving average of $213.29 and a two-hundred day moving average of $208.32. Caterpillar has a one year low of $179.67 and a one year high of $246.69. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.99 and a current ratio of 1.46. The stock has a market cap of $113.84 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.57 and a beta of 0.96.

Caterpillar (NYSE:CAT – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.88 EPS for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.28. Caterpillar had a return on equity of 35.57% and a net margin of 12.73%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.49 billion. During the same quarter in the previous year, the firm posted $2.87 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. Analysts predict that Caterpillar will post 12.32 EPS for the current fiscal year.

In other Caterpillar news, Director David Maclennan acquired 480 shares of the firm’s stock in a transaction that occurred on Monday, February 7th. The shares were purchased at an average cost of $199.50 per share, for a total transaction of $95,760.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gary Michael Marvel sold 674 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $203.11, for a total value of $136,896.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,850 shares of company stock worth $11,087,916. Insiders own 0.18% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC raised its position in Caterpillar by 322.6% in the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Nauset Wealth Management. LLC purchased a new stake in shares of Caterpillar during the first quarter worth $29,000. SkyView Investment Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth $31,000. Systematic Alpha Investments LLC purchased a new stake in shares of Caterpillar during the third quarter worth $32,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of Caterpillar during the first quarter worth $33,000. 67.11% of the stock is currently owned by institutional investors.

Caterpillar Company Profile (Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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