Caterpillar (NYSE:CAT) Shares Up 10.3%

Caterpillar Inc. (NYSE:CAT) shot up 10.3% during trading on Tuesday . The stock traded as high as $102.03 and last traded at $101.34, 7,409,470 shares were traded during trading. An increase of 61% from the average session volume of 4,605,325 shares. The stock had previously closed at $91.85.

Several research firms recently commented on CAT. Standpoint Research cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Deutsche Bank raised their target price on Caterpillar from $123.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Royal Bank of Canada decreased their target price on Caterpillar from $152.00 to $145.00 and set a “positive” rating for the company in a research note on Monday, February 3rd. Daiwa Capital Markets upgraded Caterpillar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $143.00 to $165.00 in a report on Tuesday, January 21st. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $100.00 in a report on Wednesday, March 18th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $134.89.

The company has a debt-to-equity ratio of 1.80, a current ratio of 1.47 and a quick ratio of 1.05. The stock has a fifty day moving average price of $121.81 and a two-hundred day moving average price of $134.44. The company has a market cap of $50.53 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44.

Caterpillar (NYSE:CAT) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.26. Caterpillar had a return on equity of 41.85% and a net margin of 11.32%. The company had revenue of $13.14 billion for the quarter, compared to analyst estimates of $13.42 billion. During the same quarter last year, the company earned $2.55 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 8.75 earnings per share for the current fiscal year.

In other news, CAO Gary Michael Marvel sold 589 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $137.83, for a total value of $81,181.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.37% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Resources Management Corp CT ADV bought a new stake in Caterpillar during the third quarter worth $1,513,000. Stonebridge Capital Management Inc. lifted its holdings in Caterpillar by 3.6% during the fourth quarter. Stonebridge Capital Management Inc. now owns 20,687 shares of the industrial products company’s stock worth $3,055,000 after acquiring an additional 725 shares during the period. Thomasville National Bank lifted its holdings in Caterpillar by 11.7% during the fourth quarter. Thomasville National Bank now owns 3,580 shares of the industrial products company’s stock worth $529,000 after acquiring an additional 375 shares during the period. Stillwater Investment Management LLC lifted its holdings in Caterpillar by 10.3% during the fourth quarter. Stillwater Investment Management LLC now owns 17,539 shares of the industrial products company’s stock worth $2,590,000 after acquiring an additional 1,631 shares during the period. Finally, Adams Diversified Equity Fund Inc. bought a new stake in Caterpillar during the fourth quarter worth $13,897,000. Institutional investors and hedge funds own 67.12% of the company’s stock.

About Caterpillar (NYSE:CAT)

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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