Caterpillar, Inc. (CAT) Downgraded by ValuEngine
ValuEngine downgraded shares of Caterpillar, Inc. (NYSE:CAT) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
Other analysts have also issued reports about the stock. TheStreet upgraded shares of Caterpillar from a c+ rating to a b rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Caterpillar from a hold rating to a buy rating and set a $121.00 target price for the company in a research report on Friday, July 14th. Credit Suisse Group restated a buy rating and set a $123.00 target price on shares of Caterpillar in a research report on Thursday, June 22nd. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the company a buy rating in a research report on Tuesday, June 20th. Finally, Deutsche Bank AG cut their target price on shares of Caterpillar from $108.00 to $105.00 and set a buy rating for the company in a research report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $114.03.
Caterpillar (NYSE:CAT) traded down 0.38% on Monday, hitting $126.26. 348,958 shares of the stock were exchanged. The company has a 50-day moving average of $119.86 and a 200-day moving average of $107.63. Caterpillar has a 12 month low of $80.33 and a 12 month high of $127.09. The stock has a market cap of $74.62 billion, a price-to-earnings ratio of 705.36 and a beta of 1.26. Caterpillar also was the recipient of unusually large options trading activity on Wednesday. Investors bought 21,220 call options on the company. This represents an increase of 166% compared to the typical volume of 7,980 call options.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts predict that Caterpillar will post $5.25 EPS for the current year.
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In related news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the sale, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock worth $22,979,332 in the last three months. Insiders own 0.14% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares in the last quarter. FMR LLC raised its stake in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Morgan Stanley raised its stake in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA raised its stake in Caterpillar by 16.9% during the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after purchasing an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Caterpillar by 8.1% during the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after purchasing an additional 419,191 shares in the last quarter. 69.24% of the stock is currently owned by institutional investors.
Caterpillar Company Profile
To view ValuEngine’s full report, visit ValuEngine’s official website.
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