Caterpillar (NYSE:CAT) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Caterpillar (NYSE:CAT) had its price objective hoisted by equities research analysts at Robert W. Baird from $612.00 to $680.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price points to a potential upside of 17.59% from the company’s previous close.

A number of other analysts also recently issued reports on CAT. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Royal Bank Of Canada assumed coverage on Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective on the stock. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, Citigroup lifted their price objective on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $568.50.

Caterpillar Stock Down 0.8%

NYSE CAT opened at $578.28 on Thursday. The stock’s 50 day moving average is $478.42 and its 200 day moving average is $408.38. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar has a 12 month low of $267.30 and a 12 month high of $596.21. The stock has a market cap of $270.91 billion, a PE ratio of 29.69, a P/E/G ratio of 3.33 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the previous year, the firm earned $5.17 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. Research analysts predict that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caterpillar

Several hedge funds have recently bought and sold shares of the business. Trivium Point Advisory LLC lifted its stake in shares of Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares during the last quarter. Palmer Knight Co purchased a new stake in shares of Caterpillar during the 2nd quarter worth $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Caterpillar by 11.2% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock worth $5,557,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Caterpillar during the 1st quarter worth $427,000. 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.