Caterpillar (CAT): New Buy Recommendation for This Industrial Goods Giant

Tigress Financial analyst Ivan Feinseth reiterated a Buy rating on Caterpillar (CATResearch Report) today and set a price target of $282.00. The company’s shares closed last Friday at $195.61.

According to TipRanks.com, Feinseth is a 5-star analyst with an average return of 12.0% and a 58.7% success rate. Feinseth covers the Technology sector, focusing on stocks such as International Business Machines, Dolby Laboratories, and Alphabet Class A.

Currently, the analyst consensus on Caterpillar is a Moderate Buy with an average price target of $242.14, a 17.3% upside from current levels. In a report issued on May 18, Goldman Sachs also maintained a Buy rating on the stock.

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Caterpillar’s market cap is currently $110.9B and has a P/E ratio of 17.34.

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CAT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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