Robert W. Baird Believes Caterpillar (NYSE: CAT) Still Has Room to Grow

Robert W. Baird analyst Mircea Dobre maintained a Buy rating on Caterpillar (CATResearch Report) yesterday and set a price target of $260.00. The company’s shares closed last Thursday at $221.70, close to its 52-week high of $226.67.

According to, Dobre is a 5-star analyst with an average return of 22.1% and a 63.1% success rate. Dobre covers the Industrial Goods sector, focusing on stocks such as Mayville Engineering Company, Lincoln Electric Holdings, and John Bean Technologies.

Caterpillar has an analyst consensus of Moderate Buy, with a price target consensus of $211.77, which is a -5.3% downside from current levels. In a report released today, J.P. Morgan also maintained a Buy rating on the stock with a $237.00 price target.

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The company has a one-year high of $226.67 and a one-year low of $87.50. Currently, Caterpillar has an average volume of 2.82M.

Based on the recent corporate insider activity of 133 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.

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Caterpillar, Inc. engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other. The Construction Industries segment supports customers using machinery in infrastructure and building construction applications. The Resource Industries segment is responsible for supporting customers using machinery in mining and quarrying applications and it includes business strategy, product design, product management and development, manufacturing, marketing and sales and product support. The Energy and Transportation segment supports customers in oil and gas, power generation, marine, rail, and industrial applications. The Financial Products segment offers a range of financing alternatives to customers and dealers for caterpillar machinery and engines, solar gas turbines, as well as other equipment and marine vessels. The All Other segment include activities such as the business strategy, product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, engaging tools, and fluid transfers. The company was founded on April 15, 1925 and is headquartered in Deerfield, IL.