Caterpillar (NYSE:CAT) Reaches New 12-Month Low at $165.01

Shares of Caterpillar Inc. (NYSE:CATGet Rating) hit a new 52-week low on Friday . The stock traded as low as $165.01 and last traded at $165.09, with a volume of 31882 shares changing hands. The stock had previously closed at $170.55.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Caterpillar from $230.00 to $205.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 3rd. Morgan Stanley cut their price objective on Caterpillar from $161.00 to $142.00 and set an “underweight” rating for the company in a research report on Monday, July 18th. Sanford C. Bernstein cut Caterpillar from an “outperform” rating to a “market perform” rating and set a $195.00 price objective for the company. in a research report on Wednesday, August 3rd. Citigroup boosted their price objective on Caterpillar to $195.00 in a research report on Monday, August 15th. Finally, Daiwa Capital Markets cut their price objective on Caterpillar to $190.00 in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.38.

Caterpillar Price Performance

The stock has a 50 day simple moving average of $186.16 and a two-hundred day simple moving average of $200.88. The company has a market cap of $85.68 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.45 and a quick ratio of 0.90.

Caterpillar (NYSE:CATGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, beating the consensus estimate of $3.00 by $0.18. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the company posted $2.60 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 12.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caterpillar

Several large investors have recently modified their holdings of CAT. Curi Wealth Management LLC lifted its stake in shares of Caterpillar by 289.7% in the 2nd quarter. Curi Wealth Management LLC now owns 152 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 113 shares during the last quarter. Nauset Wealth Management. LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at $29,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Caterpillar in the 1st quarter valued at $33,000. Castle Wealth Management LLC purchased a new stake in shares of Caterpillar in the 2nd quarter valued at $33,000. Finally, Investors Research Corp purchased a new stake in shares of Caterpillar in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 68.80% of the company’s stock.

About Caterpillar

(Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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