Caterpillar (NYSE:CAT) Lowered to “Hold” Rating by StockNews.com

Caterpillar (NYSE:CAT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

CAT has been the subject of a number of other research reports. Truist Financial lifted their target price on shares of Caterpillar from $454.00 to $471.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $384.33.

Caterpillar Stock Performance

Caterpillar stock opened at $367.57 on Tuesday. The stock has a market cap of $177.46 billion, a PE ratio of 17.04, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar has a 12-month low of $276.94 and a 12-month high of $418.50. The business’s 50-day moving average price is $388.59 and its two-hundred day moving average price is $362.42.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.52 earnings per share. As a group, analysts expect that Caterpillar will post 21.68 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,868 shares of company stock valued at $9,679,489. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of hedge funds have recently made changes to their positions in the business. Alpha Cubed Investments LLC raised its position in Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after acquiring an additional 4,181 shares during the period. First Affirmative Financial Network bought a new stake in Caterpillar in the third quarter valued at $204,000. Inspire Advisors LLC increased its position in Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC raised its holdings in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after purchasing an additional 4,182 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.