Caterpillar (NYSE:CAT – Get Free Report) had its price target hoisted by research analysts at UBS Group from $295.00 to $355.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the industrial products company’s stock. UBS Group’s target price would suggest a potential downside of 9.90% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Jefferies Financial Group raised their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup dropped their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective on the stock in a research note on Monday, January 13th. Finally, Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $384.60.
Caterpillar Price Performance
Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.52 EPS. On average, research analysts forecast that Caterpillar will post 21.69 earnings per share for the current year.
Insider Activity
In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,868 shares of company stock worth $13,480,389 over the last ninety days. 0.29% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Caterpillar
Institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar in the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $34,000. Kimelman & Baird LLC grew its holdings in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares during the period. Albion Financial Group UT increased its position in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its holdings in Caterpillar by 130.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares during the period. 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.
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