OTR Global Downgrades Caterpillar (CAT) to Positive

Caterpillar (NYSE:CAT) was downgraded by analysts at OTR Global to a “positive” rating in a research note issued to investors on Monday, The Fly reports.

Several other research analysts also recently weighed in on the stock. Barclays assumed coverage on shares of Caterpillar in a research report on Tuesday, December 12th. They set an “overweight” rating and a $162.00 price target for the company. Vetr downgraded shares of Caterpillar from a “hold” rating to a “sell” rating and set a $137.72 price target for the company. in a research report on Thursday, December 7th. UBS set a $155.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Tigress Financial restated a “buy” rating on shares of Caterpillar in a research report on Monday, October 30th. Finally, BMO Capital Markets upped their price target on shares of Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $139.14.

Caterpillar (NYSE CAT) traded up $2.24 on Monday, hitting $148.93. 1,224,144 shares of the company traded hands, compared to its average volume of 4,381,715. Caterpillar has a 52-week low of $90.34 and a 52-week high of $149.05. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market cap of $87,288.72, a P/E ratio of 26.44, a PEG ratio of 2.21 and a beta of 1.29.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. sell-side analysts expect that Caterpillar will post 6.44 earnings per share for the current year.

In other news, insider Lange Bob De sold 1,572 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $137.09, for a total transaction of $522,724.17. Following the completion of the sale, the director now directly owns 6,554 shares of the company’s stock, valued at approximately $898,487.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CAT. Vanguard Group Inc. grew its stake in shares of Caterpillar by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after buying an additional 2,377,623 shares during the period. FMR LLC grew its stake in shares of Caterpillar by 11.7% in the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at approximately $143,490,000. Jennison Associates LLC grew its stake in shares of Caterpillar by 140.9% in the 3rd quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock valued at $327,653,000 after buying an additional 1,536,470 shares during the period. Finally, Morgan Stanley boosted its position in shares of Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after purchasing an additional 1,365,856 shares during the period. 68.61% of the stock is owned by institutional investors and hedge funds.

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