Caterpillar (NYSE:CAT) Price Target Raised to $425.00 at Barclays

Key Points

• Barclays raised Caterpillar's price target from $383.00 to $425.00, maintaining an "equal weight" rating on the stock, suggesting a potential downside of 1.80% from its previous close.
• Multiple analysts upgraded Caterpillar's ratings and price targets, with Melius Research setting a price target of $500.00 and Bank of America increasing their target to $495.00.
• As of the latest trading session, Caterpillar's stock was down $1.44 at $432.79, with a market capitalization of $203.86 billion and a twelve-month high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) had its price target hoisted by Barclays from $383.00 to $425.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Barclays's price objective points to a potential downside of 1.80% from the company's previous close.

Several other research firms also recently issued reports on CAT. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Bank of America boosted their price target on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday. Robert W. Baird upped their target price on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Truist Financial upped their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $435.67.

Caterpillar Stock Performance

Shares of CAT stock traded down $1.44 during trading on Wednesday, reaching $432.79. 345,603 shares of the company's stock were exchanged, compared to its average volume of 2,710,265. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $203.86 billion, a PE ratio of 21.08, a PEG ratio of 2.71 and a beta of 1.40. Caterpillar has a twelve month low of $267.30 and a twelve month high of $441.15. The firm's fifty day moving average price is $389.11 and its 200-day moving average price is $354.92.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.99 earnings per share. As a group, sell-side analysts anticipate that Caterpillar will post 19.86 EPS for the current year.

Hedge Funds Weigh In On Caterpillar

Several large investors have recently bought and sold shares of CAT. Aire Advisors LLC raised its position in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company's stock valued at $3,510,000 after purchasing an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC raised its position in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company's stock valued at $1,923,000 after purchasing an additional 25 shares during the period. Redwood Wealth Management Group LLC raised its position in Caterpillar by 0.9% in the second quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company's stock valued at $1,036,000 after purchasing an additional 25 shares during the period. Tsfg LLC raised its position in Caterpillar by 9.8% in the second quarter. Tsfg LLC now owns 279 shares of the industrial products company's stock valued at $108,000 after purchasing an additional 25 shares during the period. Finally, GSB Wealth Management LLC increased its position in shares of Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock worth $832,000 after acquiring an additional 26 shares during the period. 70.98% of the stock is currently owned by institutional investors.

About Caterpillar

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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