Caterpillar (NYSE:CAT) Price Target Raised to $383.00 at Barclays

Caterpillar (NYSE:CAT - Get Free Report) had its price objective increased by stock analysts at Barclays from $335.00 to $383.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Barclays's price objective would indicate a potential downside of 7.96% from the company's current price.

A number of other research analysts have also recently issued reports on CAT. JPMorgan Chase & Co. lifted their target price on Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Oppenheimer boosted their price target on Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Truist Financial boosted their price target on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $415.53.

Caterpillar Stock Up 0.9%

NYSE CAT traded up $3.91 during trading hours on Monday, reaching $416.11. 296,372 shares of the company's stock were exchanged, compared to its average volume of 2,679,302. The company's 50-day moving average is $369.61 and its two-hundred day moving average is $349.62. Caterpillar has a one year low of $267.30 and a one year high of $419.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The company has a market capitalization of $196.00 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.60 EPS. On average, analysts forecast that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Caterpillar

Several institutional investors and hedge funds have recently modified their holdings of CAT. Victrix Investment Advisors purchased a new position in shares of Caterpillar during the 4th quarter valued at about $2,090,000. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter worth about $579,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Caterpillar by 18.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after buying an additional 30,070 shares during the period. Liberty Square Wealth Partners LLC increased its stake in Caterpillar by 5.8% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock worth $540,000 after purchasing an additional 90 shares during the period. Finally, Brighton Jones LLC increased its stake in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after purchasing an additional 2,519 shares during the period. Hedge funds and other 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.

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