Caterpillar (NYSE:CAT) Upgraded to “Outperform” at Evercore ISI

Caterpillar (NYSE:CAT) was upgraded by equities researchers at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The firm currently has a $476.00 price target on the industrial products company’s stock. Evercore ISI’s price target points to a potential upside of 15.33% from the company’s previous close.

Other analysts have also issued research reports about the stock. Robert W. Baird raised their price target on shares of Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Citigroup lifted their target price on shares of Caterpillar from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Barclays lifted their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.87.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $412.74 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market cap of $193.36 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.43 and a beta of 1.40. The firm has a 50 day simple moving average of $400.72 and a 200 day simple moving average of $356.07. Caterpillar has a fifty-two week low of $267.30 and a fifty-two week high of $441.15.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $5.99 EPS. Sell-side analysts predict that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kilter Group LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at about $28,000. Compass Financial Services Inc grew its stake in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar in the 2nd quarter valued at about $32,000. Finally, RiverPark Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at about $32,000. 70.98% of the stock is owned by institutional investors.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.