Caterpillar (NYSE:CAT) Price Target Lowered to $438.00 at Truist Financial

Caterpillar (NYSE:CAT) had its price objective reduced by equities researchers at Truist Financial from $455.00 to $438.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective suggests a potential upside of 20.76% from the company’s current price.

Other analysts also recently issued research reports about the stock. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the company from $355.00 to $385.00 in a research report on Monday. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research report on Monday, January 13th. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday. Finally, 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 note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $381.00.

Caterpillar Trading Down 2.4 %

Shares of CAT stock traded down $8.74 during mid-day trading on Monday, reaching $362.71. The company’s stock had a trading volume of 1,511,034 shares, compared to its average volume of 2,297,946. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $175.11 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company’s 50 day simple moving average is $380.88 and its 200-day simple moving average is $371.17. Caterpillar has a 12-month low of $307.05 and a 12-month high of $418.50.

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

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on 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 owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,236 shares of company stock valued at $12,102,371 over the last three months. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several large investors have recently bought and sold shares of CAT. International Assets Investment Management LLC increased its stake in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares during the period. Zurich Insurance Group Ltd FI boosted its stake 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 valued at $99,874,000 after purchasing an additional 249,155 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Caterpillar by 36,168.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock worth $82,361,000 after buying an additional 226,415 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.3% in the third 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 buying an additional 205,012 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Caterpillar by 34.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after buying an additional 200,210 shares in the last quarter. 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.