Caterpillar (NYSE:CAT) was upgraded by equities researchers at Bank of America from an "underperform" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday, The Fly reports.
Other equities analysts have also issued reports about the company. Standpoint Research lowered Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, June 9th. Citigroup increased their price target on Caterpillar from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Deutsche Bank raised Caterpillar from a "hold" rating to a "buy" rating and raised their price objective for the company from $126.50 to $166.00 in a research note on Tuesday, June 30th. Zacks Investment Research lowered Caterpillar from a "hold" rating to a "strong sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, June 30th. Finally, Credit Suisse Group lowered their price objective on Caterpillar from $162.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, April 9th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Caterpillar has a consensus rating of "Hold" and a consensus price target of $132.95.
Caterpillar stock opened at $127.20 on Wednesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.97 and a current ratio of 1.42. The stock has a fifty day moving average of $124.12 and a 200 day moving average of $125.50. The stock has a market cap of $70.05 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. Caterpillar has a one year low of $87.50 and a one year high of $150.55.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.09). Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.98 billion. During the same period last year, the company earned $2.94 EPS. The business's revenue was down 21.0% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar will post 5.31 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Brinker Capital Inc. boosted its position in shares of Caterpillar by 1.3% in the 4th quarter. Brinker Capital Inc. now owns 7,101 shares of the industrial products company's stock worth $1,049,000 after purchasing an additional 90 shares in the last quarter. Domani Wealth LLC boosted its position in shares of Caterpillar by 3.8% in the 1st quarter. Domani Wealth LLC now owns 2,493 shares of the industrial products company's stock worth $289,000 after purchasing an additional 91 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in shares of Caterpillar by 1.3% in the 1st quarter. Trust Co. of Toledo NA OH now owns 7,481 shares of the industrial products company's stock worth $868,000 after purchasing an additional 93 shares in the last quarter. TAP Consulting LLC boosted its position in shares of Caterpillar by 4.5% in the 1st quarter. TAP Consulting LLC now owns 2,165 shares of the industrial products company's stock worth $251,000 after purchasing an additional 93 shares in the last quarter. Finally, HM Payson & Co. boosted its position in shares of Caterpillar by 0.9% in the 4th quarter. HM Payson & Co. now owns 11,726 shares of the industrial products company's stock worth $1,732,000 after purchasing an additional 100 shares in the last quarter. 64.07% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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