Caterpillar (NYSE:CAT) Given New $331.00 Price Target at DA Davidson

Caterpillar (NYSE:CAT - Get Free Report) had its price target increased by equities researchers at DA Davidson from $325.00 to $331.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. DA Davidson's price target points to a potential upside of 1.56% from the stock's previous close.

Several other research analysts have also recently weighed in on the stock. Bank of America dropped their price target on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Wedbush raised Caterpillar to an "outperform" rating in a report on Monday, February 3rd. Raymond James raised Caterpillar from a "market perform" rating to an "outperform" rating in a research report on Monday, February 3rd. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Robert W. Baird upgraded shares of Caterpillar from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $300.00 to $309.00 in a research report on Thursday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $366.50.

Caterpillar Stock Performance

Shares of Caterpillar stock traded up $2.23 during trading on Monday, hitting $325.91. 603,291 shares of the company's stock traded hands, compared to its average volume of 2,623,072. The stock has a market capitalization of $155.76 billion, a P/E ratio of 14.75, a PEG ratio of 1.87 and a beta of 1.21. The business has a 50-day simple moving average of $318.18 and a 200-day simple moving average of $357.27. Caterpillar has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter last year, the business earned $5.60 earnings per share. The business's quarterly revenue was down 9.8% on a year-over-year basis. As a group, analysts forecast that Caterpillar will post 19.86 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gerald Johnson purchased 100 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the purchase, the director now owns 3,053 shares of the company's stock, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Caterpillar

A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Caterpillar in the fourth quarter worth about $2,184,364,000. GAMMA Investing LLC boosted its holdings in Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after acquiring an additional 3,721,693 shares during the period. Capital Research Global Investors increased its stake in Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after buying an additional 1,196,861 shares during the period. Raymond James Financial Inc. purchased a new position in Caterpillar in the fourth quarter valued at $353,231,000. Finally, Proficio Capital Partners LLC raised its holdings in Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock valued at $291,938,000 after acquiring an additional 803,166 shares in the last quarter. 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.

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