Caterpillar (NYSE:CAT) Stock Price Expected to Rise, Citigroup Analyst Says

Caterpillar (NYSE:CAT) had its price target upped by equities researchers at Citigroup from $420.00 to $430.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would suggest a potential upside of 15.34% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group boosted their price target on shares of Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial decreased their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $380.13.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $2.16 during trading hours on Friday, reaching $372.82. 1,659,655 shares of the company’s stock were exchanged, compared to its average volume of 2,277,987. Caterpillar has a 1 year low of $299.93 and a 1 year high of $418.50. The company has a market capitalization of $180.00 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The business has a fifty day moving average of $381.40 and a two-hundred day moving average of $370.82. 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 earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. As a group, research analysts predict that Caterpillar will post 21.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now directly owns 12,951 shares of the company’s stock, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,900 shares of company stock worth $13,111,601 over the last three months. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC lifted its holdings in shares of Caterpillar by 31.6% during the fourth quarter. Kestra Investment Management LLC now owns 1,323 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 318 shares during the period. Braun Stacey Associates Inc. lifted its holdings in Caterpillar by 2.8% in the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock valued at $12,637,000 after acquiring an additional 963 shares during the period. Venturi Wealth Management LLC lifted its holdings in Caterpillar by 15.9% in the fourth quarter. Venturi Wealth Management LLC now owns 4,517 shares of the industrial products company’s stock valued at $1,639,000 after acquiring an additional 620 shares during the period. Empower Advisory Group LLC lifted its holdings in Caterpillar by 0.7% in the fourth quarter. Empower Advisory Group LLC now owns 255,388 shares of the industrial products company’s stock valued at $92,645,000 after acquiring an additional 1,768 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Caterpillar by 4.3% in the fourth quarter. CIBC Asset Management Inc now owns 75,905 shares of the industrial products company’s stock valued at $27,535,000 after acquiring an additional 3,162 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.