Caterpillar (NYSE:CAT) Stock Rating Upgraded by UBS Group

Caterpillar (NYSE:CAT) was upgraded by equities researchers at UBS Group from a “sell” rating to a “neutral” rating in a report released on Monday, MarketBeat reports. The firm presently has a $385.00 price objective on the industrial products company’s stock, up from their previous price objective of $355.00. UBS Group’s target price indicates a potential upside of 3.53% from the stock’s previous close.

Other research analysts have also issued reports about the company. Truist Financial cut their target price on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group raised their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Morgan Stanley cut their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective on the stock in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $382.13.

Caterpillar Trading Down 0.8 %

Shares of CAT opened at $371.88 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $179.54 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The stock’s fifty day simple moving average is $380.88 and its 200 day simple moving average is $371.07. Caterpillar has a twelve month low of $299.93 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities research analysts forecast that Caterpillar will post 21.45 earnings per share for the current year.

Insider Activity at Caterpillar

In related news, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the transaction, the director now owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,236 shares of company stock valued at $12,102,371 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its position in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after acquiring an additional 2,131,276 shares during the period. Zurich Insurance Group Ltd FI boosted its position in Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after acquiring an additional 249,155 shares during the period. Strategic Financial Concepts LLC boosted its position in Caterpillar by 36,168.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock worth $82,361,000 after acquiring an additional 226,415 shares during the period. Fisher Asset Management LLC boosted its position 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 worth $3,501,554,000 after acquiring an additional 205,012 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Caterpillar by 34.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after acquiring an additional 200,210 shares during the period. Hedge funds and other institutional investors 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.