Caterpillar Inc. (NYSE:CAT) Receives $336.31 Consensus PT from Analysts

Caterpillar Inc. (NYSE:CAT) has been given an average recommendation of “Hold” by the eighteen ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $336.31.

Several equities analysts have recently commented on CAT shares. Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial reiterated a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. UBS Group lifted their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Evercore ISI lowered their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th.

Caterpillar Trading Up 0.0 %

Shares of CAT opened at $334.14 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $340.09 and a 200 day moving average price of $343.78. Caterpillar has a 12-month low of $223.76 and a 12-month high of $382.01. The firm has a market capitalization of $162.02 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.54 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the firm earned $5.55 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Caterpillar will post 21.87 EPS for the current year.

Caterpillar announced that its Board of Directors has approved a share buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The disclosure for this purchase can be found here. In the last three months, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brightwater Advisory LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $279,000. Heritage Wealth Management Inc. purchased a new stake in shares of Caterpillar in the second quarter valued at about $2,376,000. Sanctuary Advisors LLC acquired a new stake in shares of Caterpillar during the second quarter worth about $39,548,000. Creekside Partners purchased a new position in shares of Caterpillar during the second quarter worth about $923,000. Finally, Centennial Bank AR grew its stake in shares of Caterpillar by 99.2% in the 2nd quarter. Centennial Bank AR now owns 261 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

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.