October 22, 2021

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Caterpillar (NYSE:CAT) Price Target Cut to $258.00

Caterpillar (NYSE:CAT) had its price target decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $273.00 to $258.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 19.89% from the company’s previous close.

A number of other brokerages also recently commented on CAT. Morgan Stanley lifted their target price on Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a research note on Friday, April 30th. UBS Group boosted their price objective on Caterpillar from $230.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 12th. Wolfe Research started coverage on Caterpillar in a research report on Monday, April 19th. They set an “outperform” rating and a $265.00 price objective for the company. boosted their price objective on Caterpillar from $205.00 to $245.00 in a research report on Tuesday, March 16th. Finally, Stifel Nicolaus boosted their target price on Caterpillar from $222.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $227.55.

Shares of CAT stock opened at $215.19 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.15 and a current ratio of 1.60. The company has a 50 day moving average of $228.51. Caterpillar has a 52 week low of $129.23 and a 52 week high of $246.69. The firm has a market capitalization of $117.88 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.90 and a beta of 0.92.

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Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.94. Caterpillar had a return on equity of 26.63% and a net margin of 7.99%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. Caterpillar’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that Caterpillar will post 9.6 earnings per share for the current fiscal year.

In related news, insider Joseph E. Creed sold 7,699 shares of the stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $245.12, for a total value of $1,887,178.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan purchased 420 shares of the company’s stock in a transaction that occurred on Wednesday, May 5th. The stock was acquired at an average cost of $237.86 per share, with a total value of $99,901.20. Following the transaction, the director now directly owns 890 shares of the company’s stock, valued at $211,695.40. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of CAT. Brand Asset Management Group Inc. acquired a new position in Caterpillar in the first quarter worth about $26,000. Elmwood Wealth Management Inc. acquired a new position in Caterpillar in the first quarter worth about $26,000. IronBridge Private Wealth LLC acquired a new position in Caterpillar in the fourth quarter worth about $30,000. Versant Capital Management Inc grew its stake in Caterpillar by 51.0% during the first quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock worth $34,000 after buying an additional 49 shares during the last quarter. Finally, Wagner Wealth Management LLC bought a new stake in Caterpillar during the first quarter worth about $35,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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