Brokerages Set Caterpillar Inc. (NYSE:CAT) PT at $339.94

Shares of Caterpillar Inc. (NYSE:CAT) have been given a consensus recommendation of “Hold” by the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $339.94.

A number of research firms recently commented on CAT. Citigroup began coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Raymond James started coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 in the last 90 days. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CAT. 9258 Wealth Management LLC raised its position in Caterpillar by 1.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after purchasing an additional 55 shares during the period. Rollins Financial lifted its position in Caterpillar by 49.1% during the 4th quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after acquiring an additional 2,107 shares in the last quarter. Evoke Wealth LLC boosted its holdings in Caterpillar by 18.1% in the 4th quarter. Evoke Wealth LLC now owns 1,309 shares of the industrial products company’s stock worth $387,000 after acquiring an additional 201 shares during the period. KBC Group NV grew its position in Caterpillar by 6.8% in the fourth quarter. KBC Group NV now owns 98,754 shares of the industrial products company’s stock valued at $29,198,000 after acquiring an additional 6,323 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Caterpillar by 3.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,637 shares of the industrial products company’s stock valued at $780,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $398.12 on Tuesday. Caterpillar has a 52 week low of $223.76 and a 52 week high of $401.17. The company has a 50-day moving average price of $351.52 and a 200 day moving average price of $347.99. The company has a market cap of $194.70 billion, a P/E ratio of 17.97, a PEG ratio of 1.73 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $5.55 earnings per share. Research analysts predict that Caterpillar will post 21.91 earnings per share for the current year.

Caterpillar announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Caterpillar Company Profile

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.