Caterpillar (NYSE:CAT) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Caterpillar (NYSE:CAT) had its target price increased by research analysts at Robert W. Baird from $299.00 to $300.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 20.98% from the stock’s current price.

Several other brokerages also recently issued reports on CAT. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. UBS Group upped their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, Bank of America raised their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $357.56.

Caterpillar Stock Performance

Caterpillar stock opened at $379.63 on Thursday. Caterpillar has a 1 year low of $232.88 and a 1 year high of $403.60. The company’s 50-day moving average is $372.40 and its two-hundred day moving average is $351.42. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33. The company has a market cap of $184.08 billion, a PE ratio of 17.60, a PEG ratio of 1.86 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.52 EPS. Equities analysts anticipate that Caterpillar will post 21.88 earnings per share for the current year.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CAT. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the second quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter valued at about $28,000. Fairscale Capital LLC purchased a new position in Caterpillar in the second quarter worth about $36,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar in the 3rd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC increased its position in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the last quarter. 70.98% of the stock is currently 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.