Caterpillar (NYSE:CAT) Stock Rating Upgraded by StockNews.com

Caterpillar (NYSE:CAT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other analysts also recently weighed in on CAT. Robert W. Baird boosted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus target price of $374.69.

Caterpillar Price Performance

Shares of CAT stock traded down $10.82 during trading hours on Tuesday, hitting $388.44. The stock had a trading volume of 2,250,371 shares, compared to its average volume of 2,562,504. The stock’s 50-day moving average price is $393.01 and its two-hundred day moving average price is $359.52. Caterpillar has a one year low of $259.12 and a one year high of $418.50. The stock has a market capitalization of $187.54 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.95 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the firm earned $5.52 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Caterpillar will post 21.67 EPS for the current year.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the sale, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO William E. Schaupp sold 968 shares of the business’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 completion of the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,868 shares of company stock worth $9,679,489. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Caterpillar by 0.7% during the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after buying an additional 67,148 shares during the last quarter. Fisher Asset Management LLC grew its stake in Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Caterpillar by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after purchasing an additional 64,452 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after buying an additional 8,088 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Company Profile

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.