Caterpillar (NYSE:CAT) Price Target Raised to $832.00 at Oppenheimer

Caterpillar (NYSE:CAT) had its price objective boosted by investment analysts at Oppenheimer from $817.00 to $832.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price would indicate a potential upside of 6.84% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Morgan Stanley reaffirmed an “underweight” rating on shares of Caterpillar in a research report on Wednesday. Wells Fargo & Company upped their target price on Caterpillar from $756.00 to $870.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Rothschild & Co Redburn boosted their price objective on shares of Caterpillar from $650.00 to $700.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Bank of America lifted their target price on Caterpillar from $735.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, HSBC increased their price target on shares of Caterpillar from $660.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Sixteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $751.23.

Caterpillar Stock Down 2.0%

Shares of NYSE CAT opened at $778.76 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $362.35 billion, a PE ratio of 41.78, a price-to-earnings-growth ratio of 1.86 and a beta of 1.52. The firm’s 50-day moving average is $730.43 and its 200-day moving average is $630.00. Caterpillar has a 1 year low of $282.46 and a 1 year high of $798.54.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. The firm had revenue of $19.13 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $5.14 earnings per share. Equities analysts expect that Caterpillar will post 19.86 EPS for the current year.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 7,891 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $776.90, for a total value of $6,130,517.90. Following the completion of the transaction, the insider owned 46,643 shares of the company’s stock, valued at $36,236,946.70. This represents a 14.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rodney Michael Shurman sold 2,278 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $759.61, for a total value of $1,730,391.58. Following the completion of the transaction, the insider owned 1,443 shares of the company’s stock, valued at $1,096,117.23. This represents a 61.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 125,950 shares of company stock worth $88,577,390 in the last ninety days. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds have recently made changes to their positions in CAT. Illinois Municipal Retirement Fund grew its position in Caterpillar by 7.3% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock valued at $8,237,000 after purchasing an additional 1,181 shares during the period. Union Bancaire Privee UBP SA raised its holdings in Caterpillar by 155.9% during the third quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock worth $21,014,000 after buying an additional 28,773 shares during the last quarter. Caprock Group LLC bought a new position in shares of Caterpillar in the third quarter valued at $8,893,000. ZEGA Investments LLC grew its holdings in shares of Caterpillar by 149.6% during the third quarter. ZEGA Investments LLC now owns 4,184 shares of the industrial products company’s stock valued at $1,996,000 after buying an additional 2,508 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Caterpillar by 2.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company’s stock valued at $79,053,000 after buying an additional 4,010 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

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.