Caterpillar (NYSE:CAT) Given New $375.00 Price Target at Evercore ISI

Caterpillar (NYSE:CAT - Get Free Report) had its target price hoisted by equities researchers at Evercore ISI from $365.00 to $375.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "in-line" rating on the industrial products company's stock. Evercore ISI's target price suggests a potential upside of 10.35% from the company's current price.

Other equities analysts have also issued reports about the stock. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Truist Financial reduced their price target on shares of Caterpillar from $455.00 to $438.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target 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. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $383.80.

Caterpillar Price Performance

NYSE CAT traded down $9.31 on Wednesday, reaching $339.84. The company's stock had a trading volume of 3,217,630 shares, compared to its average volume of 2,416,807. The firm has a market cap of $162.42 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12. The business has a 50-day moving average price of $369.54 and a 200 day moving average price of $372.24. Caterpillar has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating 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%. Sell-side analysts expect that Caterpillar will post 19.86 EPS for the current year.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company's stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock valued at $7,226,584 over the last ninety days. Insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Caterpillar

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Caterpillar during the fourth quarter worth $2,184,364,000. International Assets Investment Management LLC increased its position in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock worth $8,356,930,000 after acquiring an additional 2,131,276 shares in the last quarter. Capital Research Global Investors increased its position in shares of Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after acquiring an additional 1,196,861 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Caterpillar during the fourth quarter worth $353,231,000. Finally, Proficio Capital Partners LLC boosted its holdings in Caterpillar by 50,072.7% during the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after purchasing an additional 803,166 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

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.