Caterpillar (NYSE:CAT) Given New $422.00 Price Target at Robert W. Baird

Caterpillar (NYSE:CAT) had its price target increased by investment analysts at Robert W. Baird from $395.00 to $422.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price suggests a potential upside of 16.00% from the company’s previous close.

CAT has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. DA Davidson boosted their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Bank of America increased their price target on Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average price target of $375.17.

Caterpillar Stock Up 1.1%

Shares of Caterpillar stock opened at $363.80 on Friday. The company has a 50-day simple moving average of $332.62 and a two-hundred day simple moving average of $347.41. The stock has a market capitalization of $171.36 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. Caterpillar has a 52-week low of $267.30 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the previous year, the firm earned $5.60 earnings per share. Caterpillar’s revenue was down 9.8% on a year-over-year basis. On average, analysts anticipate that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cape Investment Advisory Inc. increased its holdings in shares of Caterpillar by 6.3% in the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 28 shares during the last quarter. Carrera Capital Advisors grew its stake in shares of Caterpillar by 2.5% in the 4th quarter. Carrera Capital Advisors now owns 1,238 shares of the industrial products company’s stock worth $449,000 after buying an additional 30 shares in the last quarter. BBR Partners LLC raised its position in shares of Caterpillar by 0.7% during the 4th quarter. BBR Partners LLC now owns 4,162 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 30 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 30 shares during the last quarter. Finally, Allen Wealth Management LLC increased its stake in Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company’s stock worth $1,322,000 after acquiring an additional 30 shares during 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.