Caterpillar Inc. (CAT) Upgraded at Vetr Inc.
Caterpillar Inc. (NYSE:CAT) was upgraded by research analysts at Vetr from a “sell” rating to a “hold” rating in a report released on Thursday. The brokerage presently has a $88.01 price objective on the stock. Vetr‘s price objective would suggest a potential downside of 0.52% from the company’s previous close.
A number of other brokerages have also issued reports on CAT. RBC Capital Markets set a $73.00 target price on Caterpillar and gave the company a “hold” rating in a research report on Wednesday, July 27th. Morgan Stanley restated a “hold” rating and issued a $67.00 price objective on shares of Caterpillar in a report on Thursday, July 28th. Zacks Investment Research lowered Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, June 30th. Citigroup Inc. set a $82.00 price objective on Caterpillar and gave the company a “hold” rating in a report on Tuesday, August 16th. Finally, Bank of America Corp. restated a “hold” rating and issued a $92.00 price objective on shares of Caterpillar in a report on Monday, October 3rd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $73.19.
Caterpillar (NYSE:CAT) traded down 0.92% on Thursday, reaching $88.47. 3,774,152 shares of the company’s stock were exchanged. The firm has a market cap of $51.69 billion, a PE ratio of 58.98 and a beta of 1.54. Caterpillar has a one year low of $56.36 and a one year high of $89.87. The firm has a 50 day moving average price of $83.78 and a 200 day moving average price of $78.59.
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Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The firm had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the firm posted $1.27 EPS. The business’s revenue was down 16.0% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar will post $3.50 earnings per share for the current year.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the sale, the insider now owns 20,232 shares in the company, valued at $1,673,793.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dennis A. Muilenburg acquired 1,930 shares of Caterpillar stock in a transaction on Friday, July 29th. The stock was purchased at an average price of $82.75 per share, with a total value of $159,707.50. Following the purchase, the director now owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.
A number of large investors have recently modified their holdings of CAT. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Caterpillar by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 15,053,006 shares of the company’s stock worth $1,152,157,000 after buying an additional 94,145 shares in the last quarter. BlackRock Fund Advisors raised its position in Caterpillar by 51.2% in the first quarter. BlackRock Fund Advisors now owns 9,829,850 shares of the company’s stock worth $752,377,000 after buying an additional 3,327,684 shares during the last quarter. BlackRock Group LTD raised its position in Caterpillar by 2.6% in the first quarter. BlackRock Group LTD now owns 4,660,316 shares of the company’s stock worth $356,700,000 after buying an additional 116,099 shares during the last quarter. Woodstock Corp bought a new position in Caterpillar during the first quarter worth about $822,000. Finally, Franklin Resources Inc. raised its position in Caterpillar by 0.3% in the first quarter. Franklin Resources Inc. now owns 8,684,638 shares of the company’s stock worth $664,722,000 after buying an additional 28,191 shares during the last quarter. Institutional investors own 69.03% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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