Caterpillar Inc. (NYSE:CAT) Receives Average Recommendation of “Hold” from Brokerages

Caterpillar Inc. (NYSE:CAT) has received a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $339.94.

Several equities analysts have recently commented on CAT shares. Bank of America increased their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. UBS Group raised their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Finally, Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock.

Insider Activity

In related news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors and hedge funds have recently bought and sold shares of CAT. Pacifica Partners Inc. raised its holdings in shares of Caterpillar by 1.6% in the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after purchasing an additional 28 shares in the last quarter. Souders Financial Advisors lifted its position in shares of Caterpillar by 0.8% during the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock valued at $1,218,000 after acquiring an additional 29 shares during the last quarter. Southland Equity Partners LLC boosted its stake in shares of Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares in the last quarter. Davis Investment Partners LLC grew its holdings in shares of Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 30 shares during the last quarter. Finally, Hilltop National Bank raised its position in shares of Caterpillar by 1.2% during the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after purchasing an additional 31 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of NYSE CAT opened at $398.12 on Tuesday. The business has a 50 day moving average price of $351.52 and a two-hundred day moving average price of $347.99. Caterpillar has a fifty-two week low of $223.76 and a fifty-two week high of $401.17. The firm has a market cap of $194.70 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (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 business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the previous year, the firm earned $5.55 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Caterpillar will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its board has initiated a stock buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Caterpillar Company Profile

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.