J.P. Morgan Reaffirms Their Buy Rating on Caterpillar (CAT)

J.P. Morgan analyst Tami Zakaria maintained a Buy rating on Caterpillar today and set a price target of $860.00.

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According to TipRanks, Zakaria is a 5-star analyst with an average return of 14.1% and a 67.38% success rate. Zakaria covers the Industrials sector, focusing on stocks such as Oshkosh, Paccar, and ESAB Corporation.

In addition to J.P. Morgan, Caterpillar also received a Buy from TipRanks – Google’s Google Agricultural – Machinery in a report issued today. However, on the same day, TipRanks – Anthropic downgraded Caterpillar (NYSE: CAT) to a Hold.

Based on Caterpillar’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $19.13 billion and a net profit of $2.4 billion. In comparison, last year the company earned a revenue of $16.22 billion and had a net profit of $2.79 billion

Based on the recent corporate insider activity of 97 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. Last month, Rodney Michael Shurman, the Group President of CAT sold 2,278.00 shares for a total of $1,730,391.58.