Caterpillar (NYSE:CAT) Cut to Hold at StockNews.com

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

A number of other brokerages have also recently weighed in on CAT. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Truist Financial dropped their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Evercore ISI lifted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Bank of America reduced their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $383.80.

Caterpillar Trading Up 1.0 %

NYSE CAT traded up $3.45 during trading hours on Tuesday, reaching $342.37. The company had a trading volume of 3,322,881 shares, compared to its average volume of 2,444,873. 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 stock has a market capitalization of $163.63 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. The stock has a 50-day moving average of $367.92 and a 200 day moving average of $373.07. Caterpillar has a 1-year low of $307.05 and a 1-year 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 the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, research analysts anticipate that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the sale, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $398.57 per share, with a total value of $39,857.00. Following the acquisition, the director now owns 2,953 shares in the company, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 18,704 shares of company stock valued at $7,226,584. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

Hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in Caterpillar during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar in the 4th quarter valued at $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar during the 4th quarter worth $33,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

About Caterpillar

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.