Caterpillar (CAT) Downgraded to “C+” at TheStreet

Caterpillar (NYSE:CAT) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also commented on CAT. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Wednesday, October 11th. Citigroup raised their price target on Caterpillar from $125.00 to $133.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Wells Fargo & Co set a $150.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and issued a $146.00 price target (up from $133.00) on shares of Caterpillar in a report on Wednesday, October 18th. Finally, Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price target for the company in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Caterpillar has an average rating of “Buy” and a consensus price target of $167.80.

Caterpillar (NYSE:CAT) opened at $149.21 on Thursday. Caterpillar has a twelve month low of $90.34 and a twelve month high of $173.24. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97. The company has a market capitalization of $86,854.37, a price-to-earnings ratio of 118.42, a PEG ratio of 1.56 and a beta of 1.23.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. research analysts anticipate that Caterpillar will post 9.05 EPS for the current fiscal year.

In other Caterpillar news, insider Jananne A. Copeland sold 3,247 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $136.95, for a total transaction of $444,676.65. Following the sale, the insider now owns 8,908 shares in the company, valued at $1,219,950.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Insiders have sold 143,331 shares of company stock worth $22,107,578 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after buying an additional 2,377,623 shares during the period. BlackRock Inc. increased its holdings in shares of Caterpillar by 6.5% in the fourth quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after buying an additional 2,297,750 shares during the period. FMR LLC increased its holdings in shares of Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after buying an additional 2,052,300 shares during the period. Jennison Associates LLC increased its holdings in shares of Caterpillar by 126.5% in the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after buying an additional 3,324,051 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Caterpillar by 10.9% in the second quarter. TIAA CREF Investment Management LLC now owns 3,058,115 shares of the industrial products company’s stock worth $328,625,000 after buying an additional 301,739 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

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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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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