Caterpillar (NYSE:CAT) Price Target Raised to $338.00 at TD Cowen

Caterpillar (NYSE:CATGet Free Report) had its target price upped by equities researchers at TD Cowen from $300.00 to $338.00 in a research note issued on Tuesday, reports. The firm currently has an “outperform” rating on the industrial products company’s stock. TD Cowen’s target price would indicate a potential upside of 5.16% from the company’s current price.

A number of other brokerages also recently weighed in on CAT. downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Monday, November 20th. HSBC assumed coverage on shares of Caterpillar in a research note on Monday, November 20th. They set a “hold” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Caterpillar from $315.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. Sanford C. Bernstein raised their price target on Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a report on Thursday, December 21st. Finally, Tigress Financial upped their price objective on Caterpillar from $282.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $270.74.

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Caterpillar Price Performance

CAT stock opened at $321.40 on Tuesday. Caterpillar has a 52-week low of $204.04 and a 52-week high of $334.87. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $163.62 billion, a PE ratio of 18.21, a P/E/G ratio of 1.19 and a beta of 1.15. The stock’s 50 day moving average is $284.53 and its two-hundred day moving average is $271.97.

Caterpillar (NYSE:CATGet Free Report) last posted its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a net margin of 13.69% and a return on equity of 56.29%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.86 EPS. Analysts predict that Caterpillar will post 20.59 earnings per share for the current fiscal year.

Insider Activity

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

A number of institutional investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC raised its holdings in shares of Caterpillar by 130,632.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after acquiring an additional 9,776,533 shares during the period. Norges Bank acquired a new stake in shares of Caterpillar in the fourth quarter worth $1,175,255,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Caterpillar during the first quarter valued at $433,134,000. Imprint Wealth LLC raised its position in Caterpillar by 24,982.9% during the second quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock valued at $153,808,000 after buying an additional 1,531,952 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Caterpillar by 28,603.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after acquiring an additional 1,488,813 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About Caterpillar

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

Further Reading

Analyst Recommendations for Caterpillar (NYSE:CAT)

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