Caterpillar (NYSE:CAT) Stock Price Expected to Rise, Citigroup Analyst Says

Caterpillar (NYSE:CAT) had its price target increased by research analysts at Citigroup from $320.00 to $370.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would indicate a potential upside of 15.14% from the company’s previous close.

Several other research firms have also issued reports on CAT. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Bank of America reduced their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Finally, Baird R W upgraded shares of Caterpillar from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $370.67.

Caterpillar Stock Down 0.5 %

Shares of NYSE CAT opened at $321.35 on Monday. Caterpillar has a 12-month low of $267.30 and a 12-month high of $418.50. The stock’s fifty day simple moving average is $317.40 and its two-hundred day simple moving average is $356.53. The stock has a market capitalization of $153.58 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.60 EPS. As a group, analysts expect that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.