Caterpillar Inc. (NYSE:CAT) was upgraded by equities researchers at Vetr from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday. The firm currently has a $88.01 price objective on the stock. Vetr‘s price target would indicate a potential downside of 1.58% from the stock’s previous close.
Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America Corp. reaffirmed a “hold” rating and set a $92.00 price objective on shares of Caterpillar in a research note on Monday. Credit Suisse Group AG set a $90.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, September 28th. Jefferies Group reaffirmed a “hold” rating and set a $72.00 price objective on shares of Caterpillar in a research note on Thursday, September 22nd. Finally, Deutsche Bank AG began coverage on shares of Caterpillar in a research note on Monday, September 12th. They set a “buy” rating and a $82.08 price objective for the company. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Caterpillar currently has an average rating of “Hold” and an average price target of $73.19.
Caterpillar (NYSE:CAT) opened at 89.42 on Thursday. The firm’s 50-day moving average price is $83.49 and its 200-day moving average price is $78.43. Caterpillar has a 1-year low of $56.36 and a 1-year high of $89.87. The firm has a market cap of $52.24 billion, a P/E ratio of 59.61 and a beta of 1.54.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share. Equities research analysts anticipate that Caterpillar will post $3.50 earnings per share for the current fiscal year.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now directly owns 20,232 shares in the company, valued at approximately $1,673,793.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis A. Muilenburg purchased 1,930 shares of Caterpillar stock in a transaction on Friday, July 29th. The stock was bought at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, the director now owns 9,558 shares in the company, valued at approximately $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. increased its stake in shares of Caterpillar by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 15,053,006 shares of the company’s stock worth $1,152,157,000 after buying an additional 94,145 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Caterpillar by 51.2% in the first quarter. BlackRock Fund Advisors now owns 9,829,850 shares of the company’s stock worth $752,377,000 after buying an additional 3,327,684 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Caterpillar by 2.6% in the first quarter. BlackRock Group LTD now owns 4,660,316 shares of the company’s stock worth $356,700,000 after buying an additional 116,099 shares in the last quarter. Woodstock Corp bought a new stake in shares of Caterpillar during the first quarter worth about $822,000. Finally, Franklin Resources Inc. increased its stake in shares of Caterpillar by 0.3% in the first quarter. Franklin Resources Inc. now owns 8,684,638 shares of the company’s stock worth $664,722,000 after buying an additional 28,191 shares in the last quarter. Institutional investors own 69.03% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.