Caterpillar (NYSE:CAT) Receives “Market Perform” Rating from Oppenheimer

Caterpillar (NYSE:CAT)‘s stock had its “market perform” rating restated by Oppenheimer in a report released on Thursday, Benzinga reports.

Several other equities analysts have also recently issued reports on the stock. TD Cowen upped their price target on shares of Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Sanford C. Bernstein lifted their target price on Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a report on Thursday, December 21st. Evercore ISI cut Caterpillar from an “outperform” rating to an “in-line” rating and increased their price target for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $307.56.

Caterpillar Trading Down 0.4 %

NYSE CAT opened at $358.33 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The company has a market cap of $178.95 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. Caterpillar has a twelve month low of $204.04 and a twelve month high of $382.01. The business’s fifty day moving average is $345.24 and its 200 day moving average is $296.78.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. During the same period last year, the firm posted $3.86 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar will post 21.33 EPS for the current fiscal year.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares in the company, valued at $20,197,792.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares in the company, valued at $20,197,792.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the transaction, the insider now directly owns 23,474 shares in the company, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders sold 45,769 shares of company stock valued at $14,509,306 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several hedge funds have recently modified their holdings of CAT. Moneta Group Investment Advisors LLC lifted its position in shares of Caterpillar by 130,632.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after buying an additional 9,776,533 shares in the last quarter. Norges Bank purchased a new position in Caterpillar in the 4th quarter valued at approximately $1,660,560,000. Ontario Teachers Pension Plan Board purchased a new position in Caterpillar in the 1st quarter valued at approximately $433,134,000. Imprint Wealth LLC grew its stake in Caterpillar by 24,982.9% in the 2nd quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock valued at $153,808,000 after buying an additional 1,531,952 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Caterpillar by 28,603.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after buying an additional 1,488,813 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

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.