Caterpillar Inc. (CAT) Downgraded to Hold at Vetr Inc.
Vetr downgraded shares of Caterpillar Inc. (NYSE:CAT) from a buy rating to a hold rating in a research report sent to investors on Monday morning. They currently have $85.19 price target on the stock.
Several other brokerages also recently commented on CAT. Credit Suisse Group AG reaffirmed a buy rating and set a $87.00 price objective on shares of Caterpillar in a research report on Wednesday, July 13th. TheStreet raised shares of Caterpillar from a hold rating to a buy rating in a research report on Friday, July 29th. Deutsche Bank AG initiated coverage on shares of Caterpillar in a research report on Tuesday, September 6th. They set a buy rating and a $72.56 price objective for the company. Jefferies Group reaffirmed a hold rating on shares of Caterpillar in a research report on Wednesday, August 3rd. Finally, Morgan Stanley reaffirmed a hold rating and set a $67.00 price objective on shares of Caterpillar in a research report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $72.24.
Caterpillar (NYSE:CAT) opened at 81.88 on Monday. The company has a market capitalization of $47.84 billion, a P/E ratio of 54.59 and a beta of 1.64. Caterpillar has a 52 week low of $56.36 and a 52 week high of $84.73. The firm has a 50 day moving average of $82.60 and a 200-day moving average of $77.41.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The firm earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the business earned $1.27 EPS. The company’s revenue was down 16.0% compared to the same quarter last year. On average, analysts forecast that Caterpillar will post $3.50 earnings per share for the current year.
In related news, Director Dennis A. Muilenburg acquired 1,930 shares of the stock in a transaction on Friday, July 29th. The stock was purchased at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the transaction, the director now owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the sale, the insider now owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its stake in shares of Caterpillar by 14.0% in the second quarter. Macquarie Group Ltd. now owns 52,777 shares of the company’s stock valued at $4,001,000 after buying an additional 6,468 shares during the last quarter. Williams Jones & Associates LLC increased its stake in shares of Caterpillar by 518.8% in the second quarter. Williams Jones & Associates LLC now owns 20,978 shares of the company’s stock valued at $1,590,000 after buying an additional 17,588 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Caterpillar during the second quarter valued at $1,787,000. Kentucky Retirement Systems bought a new stake in shares of Caterpillar during the second quarter valued at $3,764,000. Finally, Mason Street Advisors LLC bought a new stake in shares of Caterpillar during the second quarter valued at $5,962,000. Hedge funds and other institutional investors own 69.03% of the company’s stock.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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