JPMorgan Chase & Co. Boosts Caterpillar (NYSE:CAT) Price Target to $520.00

Caterpillar (NYSE:CAT) had its price objective increased by analysts at JPMorgan Chase & Co. from $475.00 to $520.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 24.68% from the company’s current price.

Several other analysts have also commented on CAT. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Citigroup restated a “buy” rating and set a $420.00 price target (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $444.00.

Caterpillar Price Performance

CAT opened at $417.07 on Wednesday. The company’s 50-day simple moving average is $391.99 and its two-hundred day simple moving average is $355.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.77 and a current ratio of 1.34. The stock has a market capitalization of $196.46 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.69 and a beta of 1.40. Caterpillar has a 52-week low of $267.30 and a 52-week high of $441.15.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter last year, the company earned $5.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts predict that Caterpillar will post 19.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. PCG Asset Management LLC boosted its holdings in shares of Caterpillar by 6.5% during the 2nd quarter. PCG Asset Management LLC now owns 980 shares of the industrial products company’s stock valued at $380,000 after purchasing an additional 60 shares during the last quarter. Davidson Capital Management Inc. boosted its stake in Caterpillar by 3.4% during the second quarter. Davidson Capital Management Inc. now owns 8,789 shares of the industrial products company’s stock valued at $3,412,000 after buying an additional 289 shares during the last quarter. Winch Advisory Services LLC grew its holdings in Caterpillar by 926.9% during the 2nd quarter. Winch Advisory Services LLC now owns 267 shares of the industrial products company’s stock valued at $104,000 after buying an additional 241 shares in the last quarter. Cascade Financial Partners LLC increased its stake in Caterpillar by 5.5% in the 2nd quarter. Cascade Financial Partners LLC now owns 761 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 40 shares during the last quarter. Finally, 49 Wealth Management LLC raised its holdings in shares of Caterpillar by 5.2% during the 2nd quarter. 49 Wealth Management LLC now owns 1,066 shares of the industrial products company’s stock worth $414,000 after acquiring an additional 53 shares in the last quarter. 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.