Caterpillar (NYSE:CAT) Price Target Cut to $320.00 by Analysts at Citigroup

Caterpillar (NYSE:CAT - Get Free Report) had its target price cut by equities researchers at Citigroup from $430.00 to $320.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Citigroup's price objective would suggest a potential upside of 6.27% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. Truist Financial lowered their target price on shares of Caterpillar from $438.00 to $389.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. DA Davidson upped their target price on Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Bank of America lowered their target price on Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has an average rating of "Hold" and a consensus target price of $373.20.

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Caterpillar Price Performance

CAT traded up $7.66 on Tuesday, reaching $301.11. The stock had a trading volume of 165,913 shares, compared to its average volume of 2,618,712. The firm has a 50-day moving average of $333.97 and a 200-day moving average of $367.00. Caterpillar has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $143.91 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, sell-side analysts anticipate that Caterpillar will post 19.86 EPS for the current year.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Caterpillar

Large investors have recently bought and sold shares of the company. Norges Bank bought a new position in Caterpillar during the fourth quarter worth about $2,184,364,000. GAMMA Investing LLC grew its stake in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after acquiring an additional 1,196,861 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Caterpillar in the fourth quarter valued at $353,231,000. Finally, Proficio Capital Partners LLC boosted its stake in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after purchasing an additional 803,166 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

About Caterpillar

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.