Vetr Inc. Upgrades Caterpillar Inc. (CAT) to Sell
Caterpillar Inc. (NYSE:CAT) was upgraded by equities researchers at Vetr from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday. The firm presently has a $84.86 price objective on the stock. Vetr‘s price objective would suggest a potential downside of 9.09% from the company’s previous close.
A number of other brokerages also recently issued reports on CAT. RBC Capital Markets set a $73.00 price objective on shares of Caterpillar and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Morgan Stanley reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Caterpillar in a research report on Thursday, July 28th. Citigroup Inc. set a $82.00 price objective on shares of Caterpillar and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Jefferies Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Caterpillar in a research report on Tuesday, October 18th. Finally, Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $78.26.
Caterpillar (NYSE:CAT) opened at 93.35 on Tuesday. The company has a market capitalization of $54.62 billion, a P/E ratio of 90.81 and a beta of 1.30. Caterpillar has a 52-week low of $56.36 and a 52-week high of $95.50. The firm has a 50-day moving average of $87.20 and a 200 day moving average of $80.59.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. Caterpillar had a net margin of 2.54% and a return on equity of 12.79%. The business earned $9.16 billion during the quarter, compared to analyst estimates of $9.91 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. Equities analysts predict that Caterpillar will post $3.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Investors of record on Monday, October 24th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Thursday, October 20th. Caterpillar’s dividend payout ratio is currently 179.07%.
In related news, Director Daniel M. Dickinson sold 950 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $93.52, for a total transaction of $88,844.00. Following the completion of the transaction, the director now directly owns 17,476 shares in the company, valued at approximately $1,634,355.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.15% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CAT. FMR LLC increased its position in shares of Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock worth $659,404,000 after buying an additional 6,557,618 shares during the last quarter. Capital World Investors increased its position in shares of Caterpillar by 16.2% in the third quarter. Capital World Investors now owns 18,220,351 shares of the company’s stock worth $1,617,421,000 after buying an additional 2,546,164 shares during the last quarter. Morgan Stanley increased its position in shares of Caterpillar by 43.2% in the third quarter. Morgan Stanley now owns 7,107,107 shares of the company’s stock worth $630,896,000 after buying an additional 2,143,886 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Caterpillar during the third quarter worth approximately $155,178,000. Finally, Eaton Vance Management increased its position in shares of Caterpillar by 275.4% in the third quarter. Eaton Vance Management now owns 1,857,860 shares of the company’s stock worth $164,922,000 after buying an additional 1,363,002 shares during the last quarter. Hedge funds and other institutional investors own 69.32% of the company’s stock.
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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