Caterpillar, Inc. (NYSE:CAT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other research firms also recently commented on CAT. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a report on Tuesday, June 6th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Raymond James Financial, Inc. raised Caterpillar to a “buy” rating and set a $55.00 target price for the company in a report on Thursday, April 27th. Credit Suisse Group set a $123.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Bank of America Corporation raised Caterpillar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $120.00 in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $107.15.

Caterpillar (CAT) traded up 0.69% during midday trading on Thursday, hitting $113.92. 3,875,693 shares of the stock traded hands. Caterpillar has a 12 month low of $79.93 and a 12 month high of $115.46. The company has a 50-day moving average of $111.03 and a 200-day moving average of $101.77. The stock has a market cap of $67.32 billion, a PE ratio of 30.87 and a beta of 1.25.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. On average, equities research analysts anticipate that Caterpillar will post $5.24 earnings per share for the current year.

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In related news, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 over the last quarter. 0.15% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CAT. First Command Financial Services Inc. boosted its stake in shares of Caterpillar by 14.4% in the first quarter. First Command Financial Services Inc. now owns 3,807 shares of the industrial products company’s stock valued at $353,000 after buying an additional 480 shares during the last quarter. Atria Investments LLC boosted its stake in shares of Caterpillar by 38.5% in the first quarter. Atria Investments LLC now owns 29,654 shares of the industrial products company’s stock valued at $2,751,000 after buying an additional 8,236 shares during the last quarter. First National Bank & Trust Co. of Newtown boosted its stake in shares of Caterpillar by 1.5% in the first quarter. First National Bank & Trust Co. of Newtown now owns 10,781 shares of the industrial products company’s stock valued at $1,000,000 after buying an additional 160 shares during the last quarter. Cribstone Capital Management LLC boosted its stake in shares of Caterpillar by 828.9% in the first quarter. Cribstone Capital Management LLC now owns 8,917 shares of the industrial products company’s stock valued at $852,000 after buying an additional 7,957 shares during the last quarter. Finally, Viking Fund Management LLC boosted its stake in shares of Caterpillar by 38.6% in the first quarter. Viking Fund Management LLC now owns 29,800 shares of the industrial products company’s stock valued at $2,764,000 after buying an additional 8,300 shares during the last quarter. Hedge funds and other institutional investors own 70.27% of the company’s stock.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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