Caterpillar (NYSE:CAT) Stock Rating Reaffirmed by Robert W. Baird

Caterpillar (NYSE:CATGet Rating)‘s stock had its “outperform” rating reaffirmed by stock analysts at Robert W. Baird in a note issued to investors on Thursday. They presently have a $280.00 price target on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 34.65% from the company’s previous close.

A number of other analysts also recently issued reports on CAT. Deutsche Bank Aktiengesellschaft decreased their price target on Caterpillar from $250.00 to $240.00 in a report on Friday, April 29th. Jefferies Financial Group upgraded Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $260.00 in a research report on Tuesday, March 8th. StockNews.com began coverage on Caterpillar in a research report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. lifted their target price on Caterpillar from $241.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, March 28th. Finally, Wells Fargo & Company began coverage on Caterpillar in a research report on Friday, March 11th. They set an “equal weight” rating and a $231.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $243.63.

Shares of CAT opened at $207.94 on Thursday. Caterpillar has a fifty-two week low of $179.67 and a fifty-two week high of $246.69. The firm’s 50 day moving average price is $217.61 and its 200 day moving average price is $209.42. The company has a market cap of $110.90 billion, a P/E ratio of 17.43, a PEG ratio of 1.38 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48.

Caterpillar (NYSE:CATGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.28. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. Caterpillar’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm earned $2.87 earnings per share. Research analysts forecast that Caterpillar will post 12.58 earnings per share for the current year.

In other news, Director David Maclennan purchased 600 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were acquired at an average price of $219.82 per share, with a total value of $131,892.00. Following the purchase, the director now directly owns 2,480 shares of the company’s stock, valued at $545,153.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph E. Creed sold 5,004 shares of the company’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total value of $1,175,940.00. Following the completion of the sale, the insider now directly owns 2,757 shares in the company, valued at approximately $647,895. The disclosure for this sale can be found here. Insiders sold a total of 49,176 shares of company stock worth $10,951,020 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Caterpillar by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 48,223,787 shares of the industrial products company’s stock valued at $10,745,224,000 after buying an additional 663,885 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Caterpillar by 2.7% during the 1st quarter. BlackRock Inc. now owns 37,494,751 shares of the industrial products company’s stock worth $8,354,582,000 after purchasing an additional 992,608 shares during the period. Capital World Investors boosted its holdings in shares of Caterpillar by 11.6% during the fourth quarter. Capital World Investors now owns 13,262,687 shares of the industrial products company’s stock worth $2,741,910,000 after purchasing an additional 1,373,656 shares during the last quarter. Geode Capital Management LLC increased its stake in Caterpillar by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 8,619,170 shares of the industrial products company’s stock valued at $1,776,940,000 after purchasing an additional 52,169 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Caterpillar by 3.8% during the first quarter. Fisher Asset Management LLC now owns 7,272,322 shares of the industrial products company’s stock worth $1,620,419,000 after buying an additional 268,133 shares during the period. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

About Caterpillar (Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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