Caterpillar (CAT) Rating Reiterated by BMO Capital Markets

Caterpillar (NYSE:CAT)‘s stock had its “buy” rating restated by equities research analysts at BMO Capital Markets in a research note issued to investors on Thursday. They presently have a $195.00 price target on the industrial products company’s stock, up from their previous price target of $165.00. BMO Capital Markets’ price target suggests a potential upside of 20.40% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a research note on Monday, September 18th. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective for the company in a research note on Thursday, October 19th. Barclays assumed coverage on shares of Caterpillar in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $162.00 price objective for the company. Deutsche Bank set a $149.00 price objective on shares of Caterpillar and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, UBS Group raised shares of Caterpillar from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $140.00 in a research note on Monday, September 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. Caterpillar currently has an average rating of “Hold” and an average price target of $143.02.

Caterpillar (CAT) opened at $161.96 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. Caterpillar has a 12 month low of $90.34 and a 12 month high of $162.05. The company has a market cap of $96,360.00, a P/E ratio of 112.47, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. sell-side analysts expect that Caterpillar will post 6.45 earnings per share for the current year.

In other Caterpillar news, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $137.09, for a total transaction of $522,724.17. Following the completion of the sale, the director now owns 6,554 shares of the company’s stock, valued at approximately $898,487.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bradley M. Halverson sold 17,210 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. Insiders have sold a total of 52,989 shares of company stock valued at $7,235,850 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CAT. Vanguard Group Inc. raised its holdings in Caterpillar by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after purchasing an additional 2,377,623 shares in the last quarter. FMR LLC raised its holdings in Caterpillar by 11.7% in the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Jennison Associates LLC raised its holdings in Caterpillar by 140.9% in the 3rd quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock worth $327,653,000 after purchasing an additional 1,536,470 shares in the last quarter. Balyasny Asset Management LLC raised its holdings in Caterpillar by 663.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock worth $110,990,000 after purchasing an additional 1,216,053 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Caterpillar by 61.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock worth $268,768,000 after purchasing an additional 954,200 shares in the last quarter. 68.54% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This story was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://www.chaffeybreeze.com/2018/01/06/caterpillar-cat-rating-reiterated-by-bmo-capital-markets.html.

Caterpillar Company Profile

Analyst Recommendations for Caterpillar (NYSE:CAT)

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

Latest News

Leave a Reply