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

Caterpillar (NYSE:CAT) had its price target raised by investment analysts at Truist Financial from $454.00 to $471.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 28.67% from the company’s previous close.

Several other brokerages also recently commented on CAT. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. UBS Group lifted their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $375.63.

Caterpillar Price Performance

Caterpillar stock opened at $366.04 on Thursday. The company has a market capitalization of $176.72 billion, a PE ratio of 16.97, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $389.58 and a two-hundred day moving average price of $361.42. Caterpillar has a 12 month low of $276.94 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results 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 firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.52 earnings per share. Analysts expect that Caterpillar will post 21.68 EPS for the current year.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 over the last ninety days. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Caterpillar by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after acquiring an additional 67,148 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. Legal & General Group Plc grew its position in Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after buying an additional 64,452 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after buying an additional 8,088 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

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.