Brokerages Set Caterpillar, Inc. (CAT) Target Price at $110.93

Caterpillar, Inc. (NYSE:CAT) has been given an average rating of “Hold” by the thirty-one research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $111.98.

Several research firms recently issued reports on CAT. Atlantic Securities raised Caterpillar from an “underweight” rating to a “neutral” rating and upped their target price for the company from $85.00 to $115.00 in a research report on Thursday, August 3rd. Vetr raised Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 target price on the stock in a research report on Thursday, August 10th. Argus reissued a “buy” rating and issued a $113.10 target price (down from $130.00) on shares of Caterpillar in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $120.00 target price (up from $100.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Finally, Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research report on Wednesday, July 26th.

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Caterpillar (CAT) traded up 0.71% during trading on Tuesday, hitting $121.33. The stock had a trading volume of 2,758,797 shares. The firm has a market cap of $71.70 billion, a PE ratio of 677.82 and a beta of 1.24. The company’s 50 day moving average is $115.54 and its 200 day moving average is $104.50. Caterpillar has a 52-week low of $80.33 and a 52-week high of $121.57.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the firm earned $1.09 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that Caterpillar will post $5.24 earnings per share for the current year.

In related news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.

A number of institutional investors have recently modified their holdings of CAT. Delta Asset Management LLC TN lifted its stake in Caterpillar by 0.5% in the 1st quarter. Delta Asset Management LLC TN now owns 62,199 shares of the industrial products company’s stock valued at $5,770,000 after buying an additional 310 shares in the last quarter. Crossvault Capital Management LLC lifted its stake in Caterpillar by 13.4% in the 1st quarter. Crossvault Capital Management LLC now owns 7,175 shares of the industrial products company’s stock valued at $666,000 after buying an additional 850 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Caterpillar by 3.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 120,199 shares of the industrial products company’s stock valued at $11,150,000 after buying an additional 4,088 shares in the last quarter. Shell Asset Management Co. lifted its stake in Caterpillar by 12.7% in the 1st quarter. Shell Asset Management Co. now owns 164,886 shares of the industrial products company’s stock valued at $15,295,000 after buying an additional 18,626 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Caterpillar by 4.8% in the 1st quarter. Russell Investments Group Ltd. now owns 679,422 shares of the industrial products company’s stock valued at $63,022,000 after buying an additional 31,218 shares in the last quarter. 69.23% of the stock is currently owned by hedge funds and other institutional investors.

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