Evercore ISI Forecasts Strong Price Appreciation for Caterpillar (NYSE:CAT) Stock

Caterpillar (NYSE:CAT) had its price target hoisted by research analysts at Evercore ISI from $365.00 to $375.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s target price would indicate a potential upside of 6.74% from the stock’s current price.

A number of other research analysts have also weighed in on CAT. Bank of America dropped their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. DA Davidson increased their price target on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $383.80.

Caterpillar Stock Down 0.8 %

Shares of Caterpillar stock traded down $2.68 on Wednesday, reaching $351.32. 517,688 shares of the company were exchanged, compared to its average volume of 2,343,666. The stock’s 50 day moving average price is $370.89 and its 200-day moving average price is $372.54. Caterpillar has a 1-year low of $307.05 and a 1-year 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. The company has a market cap of $169.62 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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 return on equity of 58.18% and a net margin of 16.65%. As a group, equities analysts forecast that Caterpillar will post 19.98 EPS for the current year.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 18,704 shares of company stock valued at $7,226,584. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in Caterpillar in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar in the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar during the 4th quarter worth approximately $31,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the 3rd quarter valued at approximately $36,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Company Profile

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.