Caterpillar (NYSE:CAT) Raised to “Buy” at StockNews.com

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

CAT has been the subject of several other research reports. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Morgan Stanley cut their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Truist Financial lowered their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Bank of America cut their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, DA Davidson boosted their price target on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $383.13.

Caterpillar Stock Down 2.8 %

Shares of NYSE:CAT opened at $352.10 on Tuesday. The business’s 50 day moving average is $375.07 and its 200 day moving average is $371.95. The stock has a market cap of $169.99 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. Caterpillar has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating 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%. Sell-side analysts predict that Caterpillar will post 20.05 EPS for the current year.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the purchase, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was 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 owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caterpillar

A number of large investors have recently made changes to their positions in CAT. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar during the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar in the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar during the fourth quarter worth about $31,000. Finally, Capital Performance Advisors LLP acquired a new position in Caterpillar during the 3rd quarter worth $36,000. 70.98% of the stock is currently 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.