Caterpillar (NYSE:CAT) Price Target Raised to $650.00

Caterpillar (NYSE:CAT) had its price target lifted by research analysts at Rothschild & Co Redburn from $420.00 to $650.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Rothschild & Co Redburn’s target price suggests a potential upside of 2.65% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Bank of America raised their price target on shares of Caterpillar from $650.00 to $708.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Robert W. Baird lifted their price target on shares of Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research note on Monday, December 29th. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Jefferies Financial Group increased their price target on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $627.00.

Caterpillar Stock Performance

Caterpillar stock traded up $4.20 during trading hours on Wednesday, hitting $633.20. The stock had a trading volume of 250,785 shares, compared to its average volume of 2,257,731. The company has a 50-day moving average of $589.63 and a two-hundred day moving average of $506.98. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar has a fifty-two week low of $267.30 and a fifty-two week high of $655.68. The company has a market cap of $296.33 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.57.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. The company had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.Caterpillar’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.17 EPS. On average, equities research analysts anticipate that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling at Caterpillar

In related news, insider Jason Kaiser sold 10,707 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Maclennan acquired 300 shares of Caterpillar stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the purchase, the director owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. The trade was a 3.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 54,729 shares of company stock valued at $31,084,308 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC boosted its stake in Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. Norges Bank bought a new position in shares of Caterpillar during the second quarter worth $2,165,899,000. Wellington Management Group LLP grew its holdings in shares of Caterpillar by 3,949.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after buying an additional 5,098,964 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Caterpillar by 1,851.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock valued at $873,382,000 after buying an additional 1,736,631 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Caterpillar by 425.2% during the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock worth $295,738,000 after acquiring an additional 616,739 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.