Shares of Caterpillar Inc. (NYSE:CAT) have been given a consensus recommendation of “Hold” by the twenty-eight brokerages that are presently covering the stock. Three research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $72.49.
Several equities analysts have weighed in on CAT shares. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $80.92 price objective for the company. in a report on Wednesday, June 8th. Jefferies Group reissued a “hold” rating and set a $69.00 price objective on shares of Caterpillar in a report on Tuesday, June 21st. Zacks Investment Research lowered Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, June 30th. Credit Suisse Group AG reissued a “buy” rating and set a $87.00 price objective on shares of Caterpillar in a report on Wednesday, July 13th. Finally, Royal Bank Of Canada increased their price objective on Caterpillar from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, July 27th.
Shares of Caterpillar (NYSE:CAT) traded down 0.28% during trading on Tuesday, hitting $88.03. The stock had a trading volume of 2,227,902 shares. The firm’s 50 day moving average is $83.25 and its 200 day moving average is $78.26. Caterpillar has a 1-year low of $56.36 and a 1-year high of $89.19. The company has a market cap of $51.43 billion, a PE ratio of 58.69 and a beta of 1.54.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The business earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same period in the prior year, the company earned $1.27 earnings per share. Caterpillar’s revenue was down 16.0% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar will post $3.50 EPS for the current fiscal year.
In other news, Director Dennis A. Muilenburg acquired 1,930 shares of the business’s stock in a transaction on Friday, July 29th. The shares were acquired at an average cost of $82.75 per share, with a total value of $159,707.50. Following the transaction, the director now owns 9,558 shares in the company, valued at approximately $790,924.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock valued at $659,404,000 after buying an additional 6,557,618 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Caterpillar by 51.2% in the first quarter. BlackRock Fund Advisors now owns 9,829,850 shares of the company’s stock valued at $752,377,000 after buying an additional 3,327,684 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Caterpillar during the second quarter valued at $77,081,000. State of New Jersey Common Pension Fund D boosted its stake in Caterpillar by 640.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock valued at $75,810,000 after buying an additional 865,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Caterpillar by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,404,617 shares of the company’s stock valued at $2,684,024,000 after buying an additional 832,572 shares during the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.