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

StockNews.com lowered shares of Caterpillar (NYSE:CAT) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

A number of other analysts have also recently issued reports on CAT. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an in-line rating for the company in a research report on Monday, August 19th. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an equal weight rating in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a market perform rating for the company. Bank of America lowered their price objective on shares of Caterpillar from $385.00 to $376.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup initiated coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a buy rating and a $380.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $336.31.

Caterpillar Trading Down 0.0 %

NYSE:CAT opened at $390.83 on Tuesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar has a 1 year low of $223.76 and a 1 year high of $397.22. The stock has a market cap of $191.14 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.73 and a beta of 1.10. The stock has a 50-day simple moving average of $345.81 and a 200-day simple moving average of $345.99.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the firm earned $5.55 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Caterpillar will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Over the last three months, insiders sold 7,668 shares of company stock valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CAT. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar in the 1st quarter worth about $27,000. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $28,000. Finally, Fairman Group LLC acquired a new stake in shares of Caterpillar in the first quarter worth approximately $29,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.