Stephens Begins Coverage on Caterpillar (NYSE:CAT)

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Stephens began coverage on shares of Caterpillar (NYSE:CAT) in a report issued on Wednesday morning, BenzingaRatingsTable reports. The firm issued an underweight rating and a $100.00 price objective on the industrial products company’s stock.

Several other research firms have also commented on CAT. Credit Suisse Group reduced their price target on Caterpillar from $172.00 to $164.00 and set an outperform rating on the stock in a report on Wednesday, July 17th. ValuEngine lowered Caterpillar from a hold rating to a sell rating in a report on Thursday, August 1st. Wells Fargo & Co reduced their price target on Caterpillar from $160.00 to $150.00 and set an outperform rating on the stock in a report on Thursday, July 25th. Robert W. Baird reduced their price target on Caterpillar from $161.00 to $155.00 and set an outperform rating on the stock in a report on Thursday, July 25th. Finally, Standpoint Research upgraded Caterpillar from a hold rating to a buy rating in a report on Wednesday, June 5th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $139.90.

NYSE CAT opened at $116.43 on Wednesday. Caterpillar has a 52 week low of $112.06 and a 52 week high of $159.37. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 1.66. The business’s fifty day simple moving average is $130.63 and its 200-day simple moving average is $132.25. The firm has a market cap of $64.84 billion, a PE ratio of 10.38, a P/E/G ratio of 0.82 and a beta of 1.52.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing the consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Research analysts expect that Caterpillar will post 11.73 EPS for the current year.

Large investors have recently modified their holdings of the stock. Weiss Asset Management LP acquired a new stake in shares of Caterpillar during the 1st quarter worth about $200,000. Manning & Napier Group LLC grew its position in Caterpillar by 30.4% in the 2nd quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock valued at $20,770,000 after acquiring an additional 35,530 shares in the last quarter. Atalanta Sosnoff Capital LLC grew its position in Caterpillar by 3.6% in the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 120 shares in the last quarter. Tufton Capital Management grew its position in Caterpillar by 1.2% in the 1st quarter. Tufton Capital Management now owns 66,628 shares of the industrial products company’s stock valued at $9,027,000 after acquiring an additional 787 shares in the last quarter. Finally, Krueger & Catalano Capital Partners LLC grew its position in Caterpillar by 6.4% in the 2nd quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock valued at $667,000 after acquiring an additional 293 shares in the last quarter. 66.86% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

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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Analyst Recommendations for Caterpillar (NYSE:CAT)

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