Caterpillar (NYSE:CAT) Upgraded by Evercore ISI to "Outperform" Rating

Key Points

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Caterpillar (NYSE:CAT - Get Free Report) was upgraded by equities research analysts at Evercore ISI from an "in-line" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm presently has a $476.00 price objective on the industrial products company's stock. Evercore ISI's price target suggests a potential upside of 15.33% from the company's current price.

CAT has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Truist Financial increased their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Oppenheimer increased their target price on shares of Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Finally, Barclays increased their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus price target of $450.87.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $412.74 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar has a 1 year low of $267.30 and a 1 year high of $441.15. The business has a fifty day simple moving average of $400.72 and a 200 day simple moving average of $356.07. The firm has a market cap of $193.36 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 2.43 and a beta of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%. The firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the prior year, the business posted $5.99 earnings per share. Caterpillar's revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% 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 link. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aire Advisors LLC lifted its stake in 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 during the period. Dumont & Blake Investment Advisors LLC lifted its stake in 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 worth $1,923,000 after purchasing an additional 25 shares during the period. Redwood Wealth Management Group LLC lifted its stake in Caterpillar by 0.9% during the second 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 during the period. Tsfg LLC lifted its stake in Caterpillar by 9.8% during the second quarter. Tsfg LLC now owns 279 shares of the industrial products company's stock worth $108,000 after purchasing an additional 25 shares during the period. Finally, FSB Premier Wealth Management Inc. lifted its stake in Caterpillar by 2.1% during the second quarter. FSB Premier Wealth Management Inc. now owns 1,193 shares of the industrial products company's stock worth $463,000 after purchasing an additional 25 shares during the period. 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.