StockNews.com Begins Coverage on Caterpillar (NYSE:CAT)

StockNews.com started coverage on shares of Caterpillar (NYSE:CAT – Get Rating) in a report published on Thursday morning. The firm issued a buy rating on the industrial products company’s stock.

Several other brokerages have also weighed in on CAT. Bank of America upgraded shares of Caterpillar from a neutral rating to a buy rating and increased their price objective for the company from $217.00 to $295.00 in a report on Friday, January 13th. Cowen increased their price objective on shares of Caterpillar from $240.00 to $264.00 in a report on Friday, December 9th. Wells Fargo & Company increased their price objective on shares of Caterpillar from $228.00 to $240.00 and gave the company an equal weight rating in a report on Wednesday, February 1st. Robert W. Baird downgraded shares of Caterpillar from an outperform rating to a neutral rating and lowered their target price for the company from $290.00 to $230.00 in a research note on Monday, February 13th. Finally, Stifel Nicolaus upped their target price on shares of Caterpillar from $260.00 to $271.00 and gave the company a buy rating in a research note on Monday, December 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $241.00.

Caterpillar Price Performance

Shares of CAT stock opened at $215.01 on Thursday. Caterpillar has a 1 year low of $160.60 and a 1 year high of $266.04. The firm’s 50 day moving average is $246.19 and its 200-day moving average is $222.28. The firm has a market capitalization of $111.02 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.16 and a beta of 1.11. The company has a current ratio of 1.39, a quick ratio of 0.87 and a debt-to-equity ratio of 1.62.

Caterpillar (NYSE:CAT – Get Rating) last announced its earnings results on Tuesday, January 31st. The industrial products company reported $3.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.09). Caterpillar had a return on equity of 45.61% and a net margin of 11.28%. The company had revenue of $16.60 billion for the quarter, compared to analyst estimates of $15.84 billion. During the same quarter in the previous year, the company posted $2.69 earnings per share. Caterpillar’s revenue for the quarter was up 20.3% on a year-over-year basis. Sell-side analysts forecast that Caterpillar will post 15.67 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In related news, Director David Maclennan acquired 400 shares of the stock in a transaction dated Friday, February 17th. The stock was bought at an average price of $249.29 per share, with a total value of $99,716.00. Following the completion of the transaction, the director now directly owns 3,709 shares of the company’s stock, valued at $924,616.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Cheryl H. Johnson sold 23,883 shares of the firm’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $250.44, for a total value of $5,981,258.52. Following the completion of the transaction, the insider now owns 13,857 shares of the company’s stock, valued at $3,470,347.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Maclennan bought 400 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was acquired at an average cost of $249.29 per share, with a total value of $99,716.00. Following the transaction, the director now owns 3,709 shares of the company’s stock, valued at approximately $924,616.61. The disclosure for this purchase can be found here. Insiders sold 90,984 shares of company stock valued at $22,519,893 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Mayflower Financial Advisors LLC grew its position in Caterpillar by 1.0% in the fourth quarter. Mayflower Financial Advisors LLC now owns 4,087 shares of the industrial products company’s stock valued at $979,000 after purchasing an additional 40 shares in the last quarter. DT Investment Partners LLC grew its position in Caterpillar by 0.3% in the fourth quarter. DT Investment Partners LLC now owns 14,635 shares of the industrial products company’s stock valued at $3,506,000 after purchasing an additional 40 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in Caterpillar by 1.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 3,167 shares of the industrial products company’s stock valued at $760,000 after purchasing an additional 41 shares in the last quarter. LVW Advisors LLC grew its position in Caterpillar by 3.0% in the fourth quarter. LVW Advisors LLC now owns 1,458 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 42 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its position in Caterpillar by 44.7% in the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 136 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 68.02% of the company’s stock.

Caterpillar Company Profile

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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.