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

Caterpillar (NYSE:CAT) had its price objective upped by equities researchers at Citigroup from $670.00 to $690.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective suggests a potential upside of 14.21% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Oppenheimer increased their target price on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. UBS Group upped their price target on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research note on Wednesday, November 5th. Truist Financial reiterated a “buy” rating and set a $729.00 target price (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Finally, Morgan Stanley increased their price target on shares of Caterpillar from $380.00 to $395.00 and gave the company an “underweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $612.16.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $604.16 on Wednesday. Caterpillar has a 1-year low of $267.30 and a 1-year high of $607.00. The firm has a fifty day simple moving average of $547.27 and a 200-day simple moving average of $456.77. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $282.73 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.81 and a beta of 1.57.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter last year, the firm posted $5.17 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that Caterpillar will post 19.86 earnings per share for the current year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of Caterpillar stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the sale, the insider directly owned 41,512 shares of the company’s stock, valued at approximately $23,669,312.16. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the sale, the insider owned 8,649 shares in the company, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,061 shares of company stock worth $41,949,366 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Caterpillar

Institutional investors have recently bought and sold shares of the stock. Kilter Group LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar during the second quarter worth about $28,000. Marquette Asset Management LLC increased its holdings in shares of Caterpillar by 1,060.0% during the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after buying an additional 53 shares in the last quarter. Compass Financial Services Inc raised its stake in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds 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.