Caterpillar Inc. (CAT) Raised to “Conviction-Buy” at Goldman Sachs Group Inc

Caterpillar Inc. (NYSE:CAT) was upgraded by research analysts at Goldman Sachs Group Inc from a “buy” rating to a “conviction-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $120.00 price objective on the industrial products company’s stock. Goldman Sachs Group Inc’s price objective would suggest a potential upside of 26.77% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $89.96 price target for the company in a research report on Monday, April 3rd. Zacks Investment Research downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. Credit Suisse Group AG set a $111.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Monday, March 20th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research note on Thursday, March 16th. Finally, Tigress Financial upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 16th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $93.22.

Analyst Recommendations for Caterpillar (NYSE:CAT)

Shares of Caterpillar (NYSE:CAT) traded down 0.322% during mid-day trading on Tuesday, reaching $94.355. The company’s stock had a trading volume of 3,208,890 shares. The company’s 50-day moving average is $93.73 and its 200-day moving average is $92.82. The stock’s market capitalization is $55.34 billion. Caterpillar has a 52 week low of $69.04 and a 52 week high of $99.46.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 26th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.66 by $0.17. Caterpillar had a negative net margin of 0.17% and a positive return on equity of 13.44%. The business earned $9.57 billion during the quarter, compared to analyst estimates of $9.87 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was down 13.2% on a year-over-year basis. Equities analysts predict that Caterpillar will post $3.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 20th. Shareholders of record on Monday, April 24th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, April 20th. Caterpillar’s payout ratio is presently -2,369.23%.

COPYRIGHT VIOLATION NOTICE: “Caterpillar Inc. (CAT) Raised to “Conviction-Buy” at Goldman Sachs Group Inc” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & international copyright laws. The original version of this news story can be accessed at https://www.chaffeybreeze.com/2017/04/21/caterpillar-inc-cat-raised-to-conviction-buy-at-goldman-sachs-group-inc-updated.html.

In other news, Director Daniel M. Dickinson sold 3,884 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $97.90, for a total transaction of $380,243.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lange Bob De purchased 1,000 shares of the stock in a transaction dated Tuesday, February 21st. The shares were acquired at an average price of $99.32 per share, with a total value of $99,320.00. Following the transaction, the insider now owns 10,230 shares in the company, valued at $1,016,043.60. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patten Group Inc. raised its position in Caterpillar by 0.4% in the third quarter. Patten Group Inc. now owns 1,148 shares of the industrial products company’s stock valued at $100,000 after buying an additional 5 shares during the last quarter. Howe & Rusling Inc. raised its position in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares during the last quarter. Quadrant Capital Group LLC raised its position in Caterpillar by 5.3% in the third quarter. Quadrant Capital Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $106,000 after buying an additional 65 shares during the last quarter. Enterprise Financial Services Corp raised its position in Caterpillar by 7.0% in the third quarter. Enterprise Financial Services Corp now owns 1,204 shares of the industrial products company’s stock valued at $107,000 after buying an additional 79 shares during the last quarter. Finally, Integrated Wealth Management raised its position in Caterpillar by 34.6% in the third quarter. Integrated Wealth Management now owns 1,246 shares of the industrial products company’s stock valued at $111,000 after buying an additional 320 shares during the last quarter. 70.97% of the stock is currently owned by institutional investors and hedge funds.

About Caterpillar

5 Day Chart for NYSE:CAT

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply