Caterpillar Inc. (CAT) Upgraded to Hold by Vetr Inc.
Vetr upgraded shares of Caterpillar Inc. (NYSE:CAT) from a sell rating to a hold rating in a research note issued to investors on Thursday morning. Vetr currently has $88.01 price objective on the stock.
CAT has been the subject of several other research reports. Jefferies Group reaffirmed a hold rating on shares of Caterpillar in a report on Wednesday, August 3rd. Citigroup Inc. upped their price objective on shares of Caterpillar from $75.00 to $82.00 and gave the stock a neutral rating in a report on Wednesday, July 27th. Axiom Securities reaffirmed a sell rating on shares of Caterpillar in a report on Tuesday, August 30th. Credit Suisse Group AG reaffirmed a buy rating and issued a $87.00 price objective on shares of Caterpillar in a report on Wednesday, July 13th. Finally, Deutsche Bank AG assumed coverage on shares of Caterpillar in a report on Tuesday, September 6th. They issued a buy rating and a $72.56 price objective for the company. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $73.19.
Caterpillar (NYSE:CAT) traded down 0.75% during midday trading on Thursday, hitting $88.62. 1,260,743 shares of the company traded hands. The stock has a 50 day moving average price of $83.63 and a 200-day moving average price of $78.50. The company has a market cap of $51.77 billion, a PE ratio of 59.08 and a beta of 1.54. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.87.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.13. The business earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share. Analysts expect that Caterpillar will post $3.50 EPS for the current year.
In other news, Director Dennis A. Muilenburg acquired 1,930 shares of the company’s stock in a transaction on Friday, July 29th. The shares were bought at an average cost of $82.75 per share, with a total value of $159,707.50. Following the transaction, the director now owns 9,558 shares in the company, valued at approximately $790,924.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Pittenger & Anderson Inc. increased its stake in shares of Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock worth $100,000 after buying an additional 25 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA increased its stake in shares of Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock worth $115,000 after buying an additional 200 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Caterpillar by 266.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,513 shares of the company’s stock worth $115,000 after buying an additional 1,100 shares in the last quarter. CapWealth Advisors LLC increased its stake in shares of Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock worth $128,000 after buying an additional 100 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its stake in shares of Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock worth $128,000 after buying an additional 1,581 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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