Caterpillar's (CAT) "Market Perform" Rating Reiterated at Oppenheimer

Caterpillar (NYSE:CAT - Get Free Report)'s stock had its "market perform" rating reissued by investment analysts at Oppenheimer in a note issued to investors on Thursday, Benzinga reports.

Several other research analysts have also commented on CAT. Wells Fargo & Company boosted their price objective on Caterpillar from $290.00 to $325.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a "buy" rating in a research note on Tuesday. TD Cowen raised their price objective on shares of Caterpillar from $300.00 to $338.00 and gave the company an "outperform" rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. increased their target price on Caterpillar from $385.00 to $435.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They set a "buy" rating and a $390.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $307.56.

Caterpillar Price Performance

NYSE:CAT traded down $0.39 during mid-day trading on Thursday, hitting $357.93. 1,919,696 shares of the stock traded hands, compared to its average volume of 2,434,640. Caterpillar has a 12-month low of $204.04 and a 12-month high of $382.01. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The company has a market cap of $178.75 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The business's 50-day moving average price is $345.95 and its 200 day moving average price is $297.21.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The firm had revenue of $17.07 billion for the quarter, compared to analysts' expectations of $17.06 billion. During the same quarter in the prior year, the firm posted $3.86 earnings per share. The business's quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Caterpillar will post 21.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the completion of the sale, the chief financial officer now owns 67,317 shares of the company's stock, valued at approximately $20,197,792.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares in the company, valued at approximately $20,197,792.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company's stock, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock valued at $14,509,306 over the last three months. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BCK Partners Inc. bought a new stake in Caterpillar during the 1st quarter valued at approximately $2,580,000. Sei Investments Co. boosted its position in shares of Caterpillar by 17.3% during the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company's stock valued at $14,634,000 after purchasing an additional 9,695 shares in the last quarter. Dakota Wealth Management purchased a new stake in Caterpillar in the first quarter worth $405,000. Mather Group LLC. raised its holdings in Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company's stock worth $577,000 after purchasing an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Caterpillar by 4.4% during the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company's stock valued at $11,075,000 after buying an additional 2,076 shares during the period. 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.