Caterpillar (NYSE:CAT) PT Raised to $282.00

Caterpillar (NYSE:CATGet Rating) had its target price raised by equities researchers at Tigress Financial from $278.00 to $282.00 in a research note issued to investors on Friday, The Fly reports. Tigress Financial’s target price suggests a potential upside of 43.98% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Caterpillar from $250.00 to $240.00 in a research note on Friday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Wells Fargo & Company began coverage on shares of Caterpillar in a research note on Friday, March 11th. They set an “equal weight” rating and a $231.00 price target on the stock. StockNews.com started coverage on shares of Caterpillar in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Jefferies Financial Group raised shares of Caterpillar from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $260.00 in a report on Tuesday, March 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $243.88.

CAT stock traded down $10.90 during trading on Friday, reaching $195.86. The stock had a trading volume of 259,160 shares, compared to its average volume of 3,326,548. Caterpillar has a 1-year low of $179.67 and a 1-year high of $246.69. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $104.46 billion, a P/E ratio of 16.42, a PEG ratio of 1.38 and a beta of 0.94. The firm has a fifty day moving average price of $217.45 and a 200 day moving average price of $209.42.

Caterpillar (NYSE:CATGet Rating) last released its earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.28. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.49 billion. During the same quarter in the previous year, the firm earned $2.87 EPS. The company’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts predict that Caterpillar will post 12.58 EPS for the current year.

In other Caterpillar news, General Counsel Suzette M. Long sold 3,816 shares of the stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total transaction of $896,760.00. Following the completion of the sale, the general counsel now owns 10,549 shares of the company’s stock, valued at approximately $2,479,015. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 40,356 shares of the stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $220.00, for a total value of $8,878,320.00. The disclosure for this sale can be found here. In the last three months, insiders sold 49,176 shares of company stock valued at $10,951,020. 0.18% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CAT. EP Wealth Advisors LLC increased its position in shares of Caterpillar by 2.6% during the 1st quarter. EP Wealth Advisors LLC now owns 5,543 shares of the industrial products company’s stock valued at $1,235,000 after purchasing an additional 140 shares during the last quarter. Capital World Investors grew its holdings in Caterpillar by 51.7% during the 1st quarter. Capital World Investors now owns 20,124,623 shares of the industrial products company’s stock valued at $4,484,176,000 after buying an additional 6,861,936 shares in the last quarter. Capital International Sarl grew its holdings in Caterpillar by 213.9% during the 1st quarter. Capital International Sarl now owns 44,166 shares of the industrial products company’s stock valued at $9,841,000 after buying an additional 30,094 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Caterpillar by 11.1% during the 1st quarter. Golden State Wealth Management LLC now owns 4,154 shares of the industrial products company’s stock valued at $926,000 after acquiring an additional 415 shares during the last quarter. Finally, Capital International Ltd. CA boosted its position in shares of Caterpillar by 164.3% during the 1st quarter. Capital International Ltd. CA now owns 74,413 shares of the industrial products company’s stock valued at $16,581,000 after acquiring an additional 46,262 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.

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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