Caterpillar (NYSE:CAT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Caterpillar (NYSE:CAT) had its target price lifted by JPMorgan Chase & Co. from $500.00 to $515.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 28.80% from the company’s previous close.

CAT has been the subject of a number of other research reports. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group boosted their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their price target for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Finally, Truist Financial lifted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average price target of $373.13.

Caterpillar Stock Up 1.2 %

Shares of NYSE CAT traded up $4.81 during mid-day trading on Monday, reaching $399.84. 985,595 shares of the company were exchanged, compared to its average volume of 2,560,516. Caterpillar has a 1 year low of $259.12 and a 1 year high of $418.50. The firm has a 50-day moving average of $392.84 and a 200 day moving average of $359.18. The stock has a market cap of $193.04 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.95 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the business posted $5.52 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. On average, research analysts expect that Caterpillar will post 21.67 earnings per share for the current year.

Insider Activity

In other news, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares of the company’s stock, valued at $13,714,323.35. The trade was a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the acquisition, the director now owns 2,953 shares in the company, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 23,868 shares of company stock worth $9,679,489 in the last ninety days. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

A number of institutional investors have recently made changes to their positions in CAT. International Assets Investment Management LLC increased its stake in shares of Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after acquiring an additional 2,131,276 shares during the last quarter. Altshuler Shaham Ltd raised its stake in Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares during the period. Zurich Insurance Group Ltd FI boosted its holdings in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after purchasing an additional 249,155 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Caterpillar by 34.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after buying an additional 200,210 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

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.