Caterpillar (NYSE:CAT) Given New $408.00 Price Target at The Goldman Sachs Group

Caterpillar (NYSE:CAT) had its price target boosted by analysts at The Goldman Sachs Group from $357.00 to $408.00 in a research report 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 would indicate a potential upside of 13.86% from the stock’s current price.

A number of other brokerages have also recently issued reports on CAT. Citigroup upped their price objective on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Morgan Stanley assumed coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price objective for the company. TD Cowen upped their price objective on shares of Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Wells Fargo & Company upped their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $307.56.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $358.33 on Tuesday. The company’s fifty day moving average price is $345.24 and its 200-day moving average price is $296.78. The firm has a market capitalization of $178.95 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.62 and a beta of 1.17. Caterpillar has a one year low of $204.04 and a one year high of $382.01. 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 (NYSE:CAT) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.86 EPS. On average, equities research analysts anticipate that Caterpillar will post 21.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction 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 $17,774,001.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David Maclennan bought 350 shares of the stock in a transaction dated Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the purchase, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,769 shares of company stock worth $14,509,306. Insiders own 0.33% of the company’s stock.

Institutional Trading of Caterpillar

A number of hedge funds have recently added to or reduced their stakes in the business. Southland Equity Partners LLC lifted its stake in Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the period. Davis Investment Partners LLC raised its holdings in Caterpillar by 2.1% in the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 30 shares in the last quarter. McIlrath & Eck LLC raised its holdings in Caterpillar by 4.4% in the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc raised its holdings in Caterpillar by 7.4% in the first quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 33 shares in the last quarter. Finally, Lodestar Private Asset Management LLC raised its holdings in Caterpillar by 4.4% in the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 35 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other 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.