Caterpillar (NYSE:CAT) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Tuesday. They currently have a $169.96 price target on the industrial products company’s stock. Vetr‘s target price would indicate a potential upside of 9.91% from the stock’s previous close.
A number of other brokerages have also recently issued reports on CAT. Barclays set a $180.00 target price on Caterpillar and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Bank of America increased their target price on Caterpillar from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Wells Fargo & Co increased their target price on Caterpillar from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Jefferies Group reiterated a “hold” rating and issued a $170.00 target price on shares of Caterpillar in a report on Friday, January 26th. Finally, UBS Group set a $155.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Caterpillar currently has an average rating of “Buy” and a consensus price target of $167.78.
Caterpillar (NYSE:CAT) opened at $154.63 on Tuesday. Caterpillar has a twelve month low of $90.34 and a twelve month high of $173.24. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97. The stock has a market capitalization of $91,990.00, a price-to-earnings ratio of 29.57, a P/E/G ratio of 1.75 and a beta of 1.22.
In other news, General Counsel Suzette M. Long sold 528 shares of Caterpillar stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the sale, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of Caterpillar stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the sale, the insider now owns 96,268 shares in the company, valued at $15,700,348.12. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Garde Capital Inc. raised its stake in shares of Caterpillar by 6.8% during the 4th quarter. Garde Capital Inc. now owns 6,287 shares of the industrial products company’s stock worth $991,000 after purchasing an additional 400 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Caterpillar by 7.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 113,442 shares of the industrial products company’s stock worth $17,876,000 after acquiring an additional 8,255 shares during the last quarter. Colonial Trust Advisors increased its holdings in Caterpillar by 25.4% in the 4th quarter. Colonial Trust Advisors now owns 18,716 shares of the industrial products company’s stock worth $2,949,000 after acquiring an additional 3,796 shares during the last quarter. Cedar Hill Associates LLC increased its holdings in Caterpillar by 11.2% in the 4th quarter. Cedar Hill Associates LLC now owns 7,839 shares of the industrial products company’s stock worth $1,235,000 after acquiring an additional 791 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in Caterpillar by 14.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 55,029 shares of the industrial products company’s stock worth $8,671,000 after acquiring an additional 6,913 shares during the last quarter. Institutional investors own 68.70% of the company’s stock.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
To view Vetr’s full report, visit Vetr’s official website.
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