JPMorgan Chase & Co. Issues Pessimistic Forecast for Caterpillar (NYSE:CAT) Stock Price

Caterpillar (NYSE:CAT) had its target price decreased by research analysts at JPMorgan Chase & Co. from $490.00 to $380.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 28.34% from the company’s previous close.

Several other equities research analysts also recently issued reports on CAT. Evercore ISI increased their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. DA Davidson increased their price target on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Citigroup decreased their price target on shares of Caterpillar from $430.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America lowered their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $365.87.

Caterpillar Stock Up 0.9 %

Shares of CAT stock traded up $2.65 on Monday, hitting $296.10. The stock had a trading volume of 1,054,385 shares, compared to its average volume of 2,622,497. The business has a 50 day moving average of $333.97 and a 200 day moving average of $367.00. The stock has a market cap of $141.52 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. Caterpillar has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, analysts expect that Caterpillar will post 19.86 EPS for the current year.

Insider Activity

In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares in the company, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FSM Wealth Advisors LLC grew its stake in Caterpillar by 3.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after buying an additional 25 shares during the last quarter. Allen Capital Group LLC increased its position in Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after acquiring an additional 26 shares during the period. Wagner Wealth Management LLC lifted its position in Caterpillar by 4.0% during the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 26 shares during the period. Channel Wealth LLC grew its stake in shares of Caterpillar by 1.9% in the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 27 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. raised its stake in shares of Caterpillar by 0.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 27 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

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.