Caterpillar (NYSE:CAT) Price Target Raised to $355.00 at UBS Group

Caterpillar (NYSE:CAT) had its target price raised by UBS Group from $295.00 to $355.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the industrial products company’s stock. UBS Group’s target price would suggest a potential downside of 9.38% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Truist Financial cut their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group raised their price objective 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. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $384.60.

Caterpillar Trading Down 0.8 %

CAT opened at $391.77 on Tuesday. Caterpillar has a fifty-two week low of $297.45 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a market capitalization of $189.14 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.97 and a beta of 1.13. The company’s 50 day moving average price is $381.07 and its two-hundred day moving average price is $369.79.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.52 earnings per share. As a group, research analysts predict that Caterpillar will post 21.69 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock worth $13,480,389 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. FSM Wealth Advisors LLC lifted its position in Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after buying an additional 25 shares during the last quarter. Smallwood Wealth Investment Management LLC lifted its position in Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares during the last quarter. Allen Capital Group LLC lifted its position in Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after buying an additional 26 shares during the last quarter. First Bank & Trust lifted its position in Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after buying an additional 27 shares during the last quarter. Finally, Washington Trust Bank lifted its position in shares of Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 27 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.