Caterpillar (NYSE:CAT) Given New $1,165.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Caterpillar to $1,165 from $1,125 and kept an overweight rating, implying about 20.8% upside from the prior close.
• Caterpillar has received multiple recent analyst boosts, with several firms lifting targets and sentiment remaining constructive; the stock currently carries a Moderate Buy consensus and an average price target of $935.09.
• The company reported strong quarterly earnings, beating EPS and revenue estimates, while shares were trading near their 52-week high and up 2.0% in the latest session.

Caterpillar (NYSE:CAT - Get Free Report) had its price target increased by analysts at JPMorgan Chase & Co. from $1,125.00 to $1,165.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 20.80% from the stock's previous close.

Several other research analysts also recently issued reports on CAT. DA Davidson boosted their price target on Caterpillar from $650.00 to $845.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Wall Street Zen upgraded Caterpillar from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. HSBC upped their target price on shares of Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Wells Fargo & Company lifted their price target on shares of Caterpillar from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group increased their price objective on shares of Caterpillar from $900.00 to $1,045.00 and gave the company a "buy" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $935.09.

Caterpillar Trading Up 2.0%

Shares of CAT opened at $964.43 on Wednesday. The firm has a fifty day simple moving average of $860.76 and a two-hundred day simple moving average of $733.04. Caterpillar has a twelve month low of $356.96 and a twelve month high of $962.00. The stock has a market capitalization of $444.21 billion, a P/E ratio of 47.97, a PEG ratio of 1.85 and a beta of 1.59. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. The firm had revenue of $17.42 billion during the quarter, compared to analysts' expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The company's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted $4.25 EPS. On average, research analysts anticipate that Caterpillar will post 24.62 EPS for the current year.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 16,283 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares of the company's stock, valued at $42,210,388.80. This trade represents a 26.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the completion of the transaction, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This represents a 21.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 95,773 shares of company stock worth $87,642,635 in the last ninety days. Corporate insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Caterpillar

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Caterpillar by 3,949.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company's stock worth $2,494,568,000 after acquiring an additional 5,098,964 shares during the last quarter. Diamant Asset Management Inc. grew its holdings in shares of Caterpillar by 68,427.2% in the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company's stock valued at $2,224,992,000 after purchasing an additional 3,136,020 shares during the period. Capital International Investors acquired a new stake in Caterpillar during the fourth quarter worth about $1,225,317,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Caterpillar by 573.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company's stock valued at $861,947,000 after buying an additional 1,281,087 shares during the period. Finally, Bank of America Corp DE raised its position in Caterpillar by 16.0% in the fourth quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company's stock valued at $3,860,457,000 after purchasing an additional 928,974 shares during the period. 70.98% of the stock is currently owned by institutional investors.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar is being highlighted as one of the blue-chip names supporting the Dow’s latest milestone, reinforcing investor confidence in the stock’s strength and leadership among industrials. Dow Achieves a New Milestone: 4 Blue-Chip Stocks to Buy
• Positive Sentiment: Analysts say Caterpillar’s growth story is being recast around a huge AI-related power generation backlog, with strong demand from data centers, rising production plans, and an improved sales outlook. Caterpillar (CAT) Is Recasting Its Growth Story With A $63 Billion AI Backlog
• Positive Sentiment: Caterpillar recently raised its dividend, which signals confidence in cash flow and may attract income-focused investors during a period of market uncertainty. 3 Stocks That Declared Dividend Hikes Recently Amid Geopolitical Tensions
• Positive Sentiment: Recent commentary says Caterpillar has been “on fire” after strong quarterly results, with the stock sharply higher over the past six months and still drawing momentum buyers. 2 Reasons to Watch CAT and 1 to Stay Cautious
• Positive Sentiment: Several reports frame CAT as a strong industrial winner with better earnings momentum and profitability than peers, while also benefiting from the current higher-for-longer macro backdrop. Caterpillar vs. Komatsu: Which Heavy Equipment Stock is the Better Buy? 5 Stocks Built to Thrive in a Higher-For-Longer Economy (CAT)
• Neutral Sentiment: Multiple pieces focus on CAT’s already-stretched valuation and huge year-to-date run, which may limit upside near term even as sentiment remains constructive. Up 300% YTD, How High Can CAT Stock Rally This Year? Caterpillar: A World-Class Industrial At A World-Class Price Tag

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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