StockNews.com Downgrades Caterpillar (NYSE:CAT) to Hold

Caterpillar (NYSE:CAT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other equities analysts have also issued reports about the company. UBS Group upped 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. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Jefferies Financial Group boosted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup increased their price target on shares of Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $384.33.

Caterpillar Stock Down 2.8 %

Caterpillar stock opened at $351.01 on Thursday. Caterpillar has a fifty-two week low of $276.94 and a fifty-two week high of $418.50. The firm has a market capitalization of $169.47 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.92 and a beta of 1.13. The stock’s fifty day moving average is $382.16 and its two-hundred day moving average is $365.15. 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 (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter last year, the business posted $5.52 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Analysts predict that Caterpillar will post 21.68 EPS for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,868 shares of company stock valued at $9,679,489 in the last ninety days. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Caterpillar in the 3rd quarter valued at about $36,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $36,000. Kimelman & Baird LLC raised its holdings in shares of 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 buying an additional 30 shares during the last quarter. SOA Wealth Advisors LLC. boosted its position in shares of Caterpillar by 47.2% during the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after buying an additional 50 shares during the period. Finally, HWG Holdings LP acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $54,000. Institutional investors own 70.98% of the company’s stock.

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.