JPMorgan Chase & Co. Has Lowered Expectations for Caterpillar (NYSE:CAT) Stock Price

Caterpillar (NYSE:CAT) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $515.00 to $490.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 31.76% from the company’s previous close.

A number of other equities research analysts have also commented on CAT. Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Truist Financial decreased their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Morgan Stanley decreased their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group lifted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and an average price target of $380.13.

Caterpillar Trading Down 0.8 %

Shares of Caterpillar stock opened at $371.88 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $179.54 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. Caterpillar has a 12-month low of $299.93 and a 12-month high of $418.50. The company has a 50-day simple moving average of $380.88 and a 200 day simple moving average of $371.00.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Research analysts expect that Caterpillar will post 21.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,900 shares of company stock worth $13,111,601 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of large investors have recently made changes to their positions in CAT. Capital Performance Advisors LLP bought a new stake in Caterpillar during the 3rd quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth approximately $34,000. Kimelman & Baird LLC boosted its holdings in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. Albion Financial Group UT grew its stake in shares of Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its holdings in shares of Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. 70.98% of the stock is currently 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.