Todays Report: The Vetr Inc. Upgrades Caterpillar Inc. (CAT) to “Hold”

The Vetr Inc. Upgrades Caterpillar Inc. (CAT) to “Hold”

Caterpillar Inc. (NYSE:CAT) was upgraded by investment analysts at Vetr from a “sell” rating to a “hold” rating in a research report issued on Thursday. The brokerage currently has a $88.01 price objective on the stock. Vetr‘s target price points to a potential downside of 0.52% from the company’s current price.

Other equities analysts have also recently issued reports about the company. RBC Capital Markets set a $73.00 price target on Caterpillar and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Jefferies Group reaffirmed a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. Zacks Investment Research raised Caterpillar from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. TheStreet raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Finally, Royal Bank Of Canada lifted their price target on Caterpillar from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and an average price target of $73.19.

Caterpillar (NYSE:CAT) opened at 88.47 on Thursday. The company has a market capitalization of $51.69 billion, a PE ratio of 58.98 and a beta of 1.54. The company has a 50 day moving average price of $83.78 and a 200-day moving average price of $78.59. Caterpillar has a one year low of $56.36 and a one year high of $89.87.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.13. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. Caterpillar’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period last year, the firm posted $1.27 EPS. Analysts expect that Caterpillar will post $3.50 EPS for the current fiscal year.

In other news, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the transaction, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dennis A. Muilenburg acquired 1,930 shares of the stock in a transaction dated Friday, July 29th. The shares were bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the transaction, the director now owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CAT. FMR LLC boosted its position in Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock worth $659,404,000 after buying an additional 6,557,618 shares during the last quarter. BlackRock Fund Advisors boosted its position in 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 during the last quarter. Emerald Acquisition Ltd. bought a new position in Caterpillar during the second quarter worth $77,081,000. State of New Jersey Common Pension Fund D boosted its position in Caterpillar by 640.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock worth $75,810,000 after buying an additional 865,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Caterpillar by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,404,617 shares of the company’s stock worth $2,684,024,000 after buying an additional 832,572 shares during the last quarter. 69.03% of the stock is currently owned by hedge funds and other institutional investors.

About Caterpillar

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.

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