Caterpillar (CAT) Received its Third Buy in a Row

After Robert W. Baird and J.P. Morgan gave Caterpillar (NYSE: CAT) a Buy rating last month, the company received another Buy, this time from Jefferies. Analyst Stephen Volkmann maintained a Buy rating on Caterpillar yesterday and set a price target of $260.00. The company’s shares closed last Tuesday at $213.09.

According to TipRanks.com, Volkmann is a 5-star analyst with an average return of 18.3% and a 64.0% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as Lennox International, Johnson Controls, and Parker Hannifin.

Currently, the analyst consensus on Caterpillar is a Moderate Buy with an average price target of $246.73, which is a 15.9% upside from current levels. In a report issued on May 2, Argus Research also maintained a Buy rating on the stock with a $235.00 price target.

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Caterpillar’s market cap is currently $113.7B and has a P/E ratio of 17.87.

Based on the recent corporate insider activity of 101 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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