In a report released yesterday, Seth Weber from Wells Fargo maintained a Hold rating on Caterpillar (CAT – Research Report), with a price target of $325.00. The company’s shares closed yesterday at $322.72.
Weber covers the Industrials sector, focusing on stocks such as Cintas, TransUnion, and Equifax. According to TipRanks, Weber has an average return of 23.6% and a 69.75% success rate on recommended stocks.
In addition to Wells Fargo, Caterpillar also received a Hold from Oppenheimer’s Kristen Owen in a report issued yesterday. However, on the same day, UBS maintained a Sell rating on Caterpillar (NYSE: CAT).
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Based on Caterpillar’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $16.81 billion and a net profit of $2.79 billion. In comparison, last year the company earned a revenue of $14.99 billion and had a net profit of $2.04 billion
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is neutral on the stock.
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Caterpillar (CAT) Company Description:
Founded in 1925, Illinois-based Caterpillar, Inc. manufactures construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments, including Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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