Caterpillar (NYSE:CAT) PT Raised to $435.00 at JPMorgan Chase & Co.

Caterpillar (NYSE:CAT) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $385.00 to $435.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 21.40% from the stock’s previous close.

Several other research analysts have also commented on the company. Robert W. Baird lifted their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. Stifel Nicolaus lifted their target price on Caterpillar from $285.00 to $293.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Morgan Stanley initiated coverage on Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price objective for the company. TD Cowen boosted their price objective on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Finally, Truist Financial initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $307.56.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $358.33 on Tuesday. The company has a market cap of $178.95 billion, a P/E ratio of 17.79, a PEG ratio of 1.62 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. Caterpillar has a one year low of $204.04 and a one year high of $382.01. The business’s 50-day simple moving average is $345.24 and its 200 day simple moving average is $296.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion during the quarter, compared to analyst estimates of $17.06 billion. During the same quarter last year, the firm earned $3.86 EPS. Caterpillar’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Caterpillar will post 21.33 earnings per share for the current fiscal year.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on 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 $20,197,792.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction 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 transaction, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold 45,769 shares of company stock valued at $14,509,306 over the last three months. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAT. Vanguard Group Inc. grew its stake in Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares in the last quarter. Capital World Investors grew its stake in Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after purchasing an additional 96,479 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in Caterpillar by 130,632.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after purchasing an additional 9,776,533 shares in the last quarter. Fisher Asset Management LLC grew its stake in Caterpillar by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after purchasing an additional 179,908 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Caterpillar by 1.6% in the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after purchasing an additional 111,384 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

About Caterpillar

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.