Caterpillar, Inc. (NYSE:CAT)‘s stock had its “buy” rating restated by research analysts at Tigress Financial in a note issued to investors on Monday.
CAT has been the topic of several other reports. BMO Capital Markets restated a “buy” rating and issued a $130.00 price objective on shares of Caterpillar in a report on Friday, September 8th. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective on the stock. in a report on Monday, September 11th. Jefferies Group LLC restated a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a report on Tuesday, August 29th. Deutsche Bank AG lowered shares of Caterpillar from a “buy” rating to a “hold” rating and cut their price objective for the company from $121.00 to $106.00 in a report on Friday, June 23rd. Finally, Credit Suisse Group restated an “outperform” rating and issued a $133.00 price objective (up from $123.00) on shares of Caterpillar in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $113.55.
Caterpillar (NYSE CAT) opened at 124.74 on Monday. The company has a market cap of $73.72 billion, a PE ratio of 696.87 and a beta of 1.24. Caterpillar has a 12-month low of $80.33 and a 12-month high of $124.93. The firm has a 50 day moving average price of $116.33 and a 200 day moving average price of $105.20. Caterpillar also was the target of some unusual options trading activity on Monday. Stock traders bought 20,797 call options on the stock. This is an increase of 131% compared to the average volume of 8,998 call options.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business posted $1.09 earnings per share. Caterpillar’s revenue was up 9.6% compared to the same quarter last year. On average, analysts anticipate that Caterpillar will post $5.25 earnings per share for the current fiscal year.
In related news, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC grew its position in Caterpillar by 42.2% in the second quarter. Bogart Wealth LLC now owns 14,267 shares of the industrial products company’s stock valued at $1,533,000 after purchasing an additional 4,234 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in Caterpillar in the second quarter valued at $316,000. Perigon Wealth Management LLC grew its position in Caterpillar by 389.7% in the second quarter. Perigon Wealth Management LLC now owns 12,252 shares of the industrial products company’s stock valued at $1,317,000 after purchasing an additional 9,750 shares in the last quarter. W. E. Donoghue & Co. LLC bought a new position in Caterpillar in the second quarter valued at $16,036,000. Finally, Intl Fcstone Inc. bought a new position in Caterpillar in the second quarter valued at $346,000. 69.24% of the stock is owned by institutional investors and hedge funds.
Caterpillar Company Profile
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