Caterpillar (NYSE:CAT) PT Raised to $408.00 at The Goldman Sachs Group

Caterpillar (NYSE:CAT) had its price target boosted by research analysts at The Goldman Sachs Group from $357.00 to $408.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 13.86% from the company’s current price.

CAT has been the topic of several other reports. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley initiated coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target on the stock. Sanford C. Bernstein upped their price target on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research note on Thursday, December 21st. Truist Financial initiated coverage on shares of Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on shares of Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $307.56.

Caterpillar Trading Down 0.4 %

Shares of NYSE:CAT opened at $358.33 on Tuesday. The company’s 50-day moving average price is $345.24 and its two-hundred day moving average price is $296.78. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. Caterpillar has a one year low of $204.04 and a one year high of $382.01. The stock has a market capitalization of $178.95 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

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

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the transaction, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,769 shares of company stock valued at $14,509,306. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAT. BCK Partners Inc. acquired a new position in Caterpillar in the 1st quarter valued at approximately $2,580,000. Sei Investments Co. increased its position in Caterpillar by 17.3% in the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after acquiring an additional 9,695 shares during the period. Dakota Wealth Management acquired a new position in Caterpillar in the 1st quarter valued at approximately $405,000. Mather Group LLC. increased its position in Caterpillar by 6.8% in the 1st quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 165 shares during the period. Finally, NewEdge Advisors LLC increased its position in Caterpillar by 4.4% in the 1st quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after acquiring an additional 2,076 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.