ValuEngine downgraded shares of Caterpillar (NYSE:CAT) from a buy rating to a hold rating in a report published on Wednesday morning.
CAT has been the topic of several other reports. Citigroup lifted their price target on shares of Caterpillar from $145.00 to $160.00 and gave the company a neutral rating in a research note on Thursday, December 21st. Vetr raised shares of Caterpillar from a hold rating to a buy rating and set a $170.44 price objective for the company in a research report on Monday, January 29th. Bank of America reissued a buy rating and issued a $189.00 price objective (up previously from $158.00) on shares of Caterpillar in a research report on Friday, January 12th. UBS Group set a $180.00 price objective on shares of Caterpillar and gave the company a buy rating in a research report on Friday, January 5th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a hold rating and issued a $188.00 price objective on shares of Caterpillar in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $169.06.
Shares of Caterpillar (NYSE:CAT) opened at $158.25 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97. Caterpillar has a 52 week low of $90.34 and a 52 week high of $173.24. The stock has a market cap of $94,574.31, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.45 and a beta of 1.23.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, January 22nd were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Friday, January 19th. Caterpillar’s payout ratio is 247.62%.
In related news, General Counsel Suzette M. Long sold 528 shares of Caterpillar stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the sale, the general counsel now owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas A. Pellette sold 95,199 shares of Caterpillar stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the sale, the insider now directly owns 96,268 shares of the company’s stock, valued at approximately $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 have recently made changes to their positions in CAT. Blue Edge Capital LLC raised its stake in Caterpillar by 3.5% in the 2nd quarter. Blue Edge Capital LLC now owns 9,255 shares of the industrial products company’s stock worth $995,000 after purchasing an additional 314 shares in the last quarter. Bluefin Trading LLC raised its stake in Caterpillar by 158.3% in the 2nd quarter. Bluefin Trading LLC now owns 10,240 shares of the industrial products company’s stock worth $1,100,000 after purchasing an additional 27,800 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Caterpillar by 7,524.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,624 shares of the industrial products company’s stock worth $819,000 after purchasing an additional 7,524 shares in the last quarter. Princeton Portfolio Strategies Group LLC raised its stake in Caterpillar by 247.5% in the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 2,980 shares of the industrial products company’s stock worth $320,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in Caterpillar by 8.1% in the 2nd quarter. Coldstream Capital Management Inc. now owns 4,103 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 306 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.
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Caterpillar Company Profile
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.
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