Caterpillar (NYSE:CAT) Stock Price Expected to Rise, Bank of America Analyst Says

Caterpillar (NYSE:CAT) had its price target increased by equities researchers at Bank of America from $495.00 to $517.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective indicates a potential upside of 9.59% from the stock’s current price.

CAT has been the subject of several other research reports. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Barclays increased their target price on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. DA Davidson increased their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Robert W. Baird increased their target price on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Truist Financial increased their target price on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus target price of $464.33.

Caterpillar Stock Down 0.1%

Shares of CAT stock opened at $471.77 on Monday. The stock’s 50 day simple moving average is $427.87 and its 200 day simple moving average is $371.09. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar has a twelve month low of $267.30 and a twelve month high of $485.34. The company has a market capitalization of $221.02 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 2.87 and a beta of 1.41.

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 during the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the previous year, the business posted $5.99 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. As a group, research analysts predict that Caterpillar will post 19.86 EPS for the current year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after acquiring an additional 7,125 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Caterpillar during the first quarter valued at $427,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after acquiring an additional 15,347 shares during the period. Heartwood Wealth Advisors LLC grew its stake in shares of Caterpillar by 4.2% during the second quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 121 shares during the period. Finally, Fiduciary Financial Group LLC increased its holdings in Caterpillar by 81.2% in the second quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 857 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

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.