JPMorgan Chase & Co. Increases Caterpillar (NYSE:CAT) Price Target to $435.00

Caterpillar (NYSE:CATGet Free Report) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $385.00 to $435.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 21.40% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on Caterpillar from $285.00 to $293.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. The Goldman Sachs Group increased their target price on Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. TD Cowen increased their target price on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Morgan Stanley started coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price for the company. Finally, Wells Fargo & Company increased their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $307.56.

Check Out Our Latest Research Report on Caterpillar

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $358.33 on Tuesday. The company has a market capitalization of $178.95 billion, a PE ratio of 17.79, a PEG ratio of 1.62 and a beta of 1.17. Caterpillar has a 12 month low of $204.04 and a 12 month high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock’s fifty day simple moving average is $345.24 and its 200 day simple moving average is $296.78.

Caterpillar (NYSE:CATGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. The business had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.86 EPS. On average, research analysts predict that Caterpillar will post 21.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 350 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Caterpillar news, Director David Maclennan purchased 350 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 45,769 shares of company stock worth $14,509,306 over the last three months. Insiders own 0.33% of the company’s stock.

Institutional Trading of Caterpillar

Institutional investors have recently modified their holdings of the business. BCK Partners Inc. acquired a new position in Caterpillar in the first quarter valued at $2,580,000. Sei Investments Co. lifted its holdings in Caterpillar by 17.3% in the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after buying an additional 9,695 shares during the period. Dakota Wealth Management acquired a new position in Caterpillar in the first quarter valued at $405,000. Mather Group LLC. lifted its holdings in Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after buying an additional 165 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Caterpillar by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after buying an additional 2,076 shares during the period. Institutional investors own 70.98% of the company’s stock.

About Caterpillar

(Get Free Report)

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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