CAT

JP Morgan Maintains Caterpillar (CAT) Overweight Recommendation

Fintel reports that on October 16, 2023, JP Morgan maintained coverage of Caterpillar (NYSE:CAT) with a Overweight recommendation.

Analyst Price Forecast Suggests 8.30% Upside

As of October 5, 2023, the average one-year price target for Caterpillar is 290.19. The forecasts range from a low of 176.75 to a high of $367.50. The average price target represents an increase of 8.30% from its latest reported closing price of 267.94.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Caterpillar is 62,487MM, a decrease of 3.53%. The projected annual non-GAAP EPS is 15.19.

What is the Fund Sentiment?

There are 3302 funds or institutions reporting positions in Caterpillar. This is an increase of 31 owner(s) or 0.95% in the last quarter. Average portfolio weight of all funds dedicated to CAT is 0.41%, an increase of 0.60%. Total shares owned by institutions decreased in the last three months by 7.85% to 398,369K shares. CAT / Caterpillar Inc. Put/Call Ratios The put/call ratio of CAT is 1.05, indicating a bearish outlook.

What are Other Shareholders Doing?

CAT / Caterpillar Inc. Shares Held by Institutions

Capital World Investors holds 28,803K shares representing 5.65% ownership of the company. In it's prior filing, the firm reported owning 28,780K shares, representing an increase of 0.08%. The firm increased its portfolio allocation in CAT by 0.13% over the last quarter.

State Farm Mutual Automobile Insurance holds 17,761K shares representing 3.48% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 16,072K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 15,986K shares, representing an increase of 0.54%. The firm decreased its portfolio allocation in CAT by 0.26% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 12,270K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 12,143K shares, representing an increase of 1.04%. The firm decreased its portfolio allocation in CAT by 1.60% over the last quarter.

Geode Capital Management holds 9,532K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 9,376K shares, representing an increase of 1.64%. The firm decreased its portfolio allocation in CAT by 1.14% over the last quarter.

Caterpillar Background Information
(This description is provided by the company.)

Since 1925, Caterpillar Inc. has been helping our customers build a better world - making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and provides financing and related services through its Financial Products segment.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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