Caterpillar (NYSE:CAT) Stock Rating Lowered by StockNews.com

Caterpillar (NYSE:CAT - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

A number of other analysts have also weighed in on CAT. Robert W. Baird raised their target price on Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $500.00 to $515.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Truist Financial increased their price target on shares of Caterpillar from $454.00 to $471.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Morgan Stanley downgraded Caterpillar from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Finally, UBS Group lifted their target price on Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has an average rating of "Hold" and a consensus target price of $384.33.

Caterpillar Price Performance

Shares of NYSE CAT traded up $2.18 during midday trading on Tuesday, reaching $367.57. 886,018 shares of the company traded hands, compared to its average volume of 2,548,751. The stock's 50-day simple moving average is $389.00 and its 200-day simple moving average is $362.14. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar has a 12 month low of $276.94 and a 12 month high of $418.50. The firm has a market cap of $177.46 billion, a PE ratio of 17.04, a PEG ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm earned $5.52 earnings per share. Caterpillar's quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar will post 21.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 6,279 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares of the company's stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the transaction, the insider now owns 12,951 shares of the company's stock, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,868 shares of company stock worth $9,679,489 over the last ninety days. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

Several hedge funds have recently made changes to their positions in the business. Fairscale Capital LLC bought a new position in Caterpillar in the second quarter valued at $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the third quarter valued at about $36,000. Kimelman & Baird LLC boosted its position in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 30 shares during the last quarter. HWG Holdings LP bought a new position in Caterpillar in the second quarter valued at approximately $54,000. Finally, SOA Wealth Advisors LLC. raised its stake in shares of Caterpillar by 47.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company's stock worth $61,000 after purchasing an additional 50 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.