Caterpillar (NYSE:CAT) Given “Buy” Rating at Citigroup

Caterpillar (NYSE:CAT)‘s stock had its “buy” rating restated by analysts at Citigroup in a research note issued on Tuesday, MarketBeat Ratings reports. They currently have a $420.00 target price on the industrial products company’s stock, up from their prior target price of $370.00. Citigroup’s target price would indicate a potential upside of 13.02% from the company’s current price.

Several other brokerages also recently weighed in on CAT. Wall Street Zen downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Truist Financial upped their target price on shares of Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a report on Monday. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $380.83.

Caterpillar Trading Down 0.4%

CAT opened at $371.63 on Tuesday. The stock has a market cap of $175.05 billion, a PE ratio of 18.11, a PEG ratio of 2.48 and a beta of 1.37. The business has a 50 day moving average of $338.55 and a 200-day moving average of $346.61. Caterpillar has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same period in the prior year, the company earned $5.60 earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CAT. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $579,000. Brighton Jones LLC grew its position in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Caterpillar by 27.4% during the fourth quarter. IFP Advisors Inc now owns 10,343 shares of the industrial products company’s stock valued at $3,752,000 after buying an additional 2,225 shares during the period. Edge Capital Group LLC lifted its stake in Caterpillar by 5.8% in the fourth quarter. Edge Capital Group LLC now owns 3,410 shares of the industrial products company’s stock worth $1,237,000 after acquiring an additional 186 shares during the period. Finally, Prasad Wealth Partners LLC purchased a new position in Caterpillar during the 4th quarter valued at about $200,000. 70.98% of the stock is currently owned by institutional investors.

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.