Caterpillar (NYSE:CAT) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its target price for Caterpillar from $414.00 to $507.00, indicating a potential upside of 16.95% from the previous close and maintaining a "buy" rating.
• Analysts show mixed ratings for Caterpillar, with seven holding, ten buying, and two giving a strong buy, resulting in a consensus rating of "Moderate Buy" with a target price of $432.87.
• Caterpillar reported $4.72 earnings per share in its last quarter, missing estimates by ($0.16), while revenue reached $16.57 billion against expectations of $16.14 billion.

Caterpillar (NYSE:CAT - Get Free Report) had its target price increased by stock analysts at Truist Financial from $414.00 to $507.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Truist Financial's price target points to a potential upside of 16.95% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI cut their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. 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, July 17th. Robert W. Baird increased their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $432.87.

Caterpillar Price Performance

Shares of NYSE CAT opened at $433.54 on Wednesday. The company has a 50 day moving average of $389.11 and a 200 day moving average of $354.92. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. Caterpillar has a twelve month low of $267.30 and a twelve month high of $441.15. The firm has a market cap of $204.21 billion, a P/E ratio of 21.13, a PEG ratio of 2.71 and a beta of 1.40.

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

Institutional Trading of Caterpillar

Several hedge funds have recently modified their holdings of the company. Aire Advisors LLC increased its position in shares of Caterpillar by 0.3% during the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company's stock worth $3,510,000 after purchasing an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its holdings in shares of Caterpillar by 0.5% during 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 acquiring an additional 25 shares in the last quarter. Redwood Wealth Management Group LLC boosted its stake in Caterpillar by 0.9% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company's stock worth $1,036,000 after purchasing an additional 25 shares in the last quarter. Tsfg LLC increased its stake in Caterpillar by 9.8% during the 2nd quarter. Tsfg LLC now owns 279 shares of the industrial products company's stock valued at $108,000 after purchasing an additional 25 shares in the last quarter. Finally, GSB Wealth Management LLC grew its holdings 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 valued at $832,000 after buying an additional 26 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

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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