Caterpillar (CAT) Rating Lowered to Strong Sell at Vetr

Caterpillar (NYSE:CAT) was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday. They presently have a $141.37 price target on the industrial products company’s stock. Vetr‘s price objective suggests a potential downside of 12.71% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a research report on Monday, September 18th. Barclays assumed coverage on Caterpillar in a report on Tuesday, December 12th. They set an “overweight” rating and a $162.00 price objective on the stock. Deutsche Bank set a $149.00 price objective on Caterpillar and gave the stock a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets reissued a “buy” rating and set a $195.00 price objective (up previously from $165.00) on shares of Caterpillar in a report on Thursday. Finally, UBS Group raised Caterpillar from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $140.00 in a report on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $143.02.

Caterpillar (NYSE CAT) opened at $161.96 on Thursday. Caterpillar has a 1 year low of $90.34 and a 1 year high of $162.05. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The company has a market capitalization of $96,360.00, a price-to-earnings ratio of 112.47, a PEG ratio of 1.95 and a beta of 1.29.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. sell-side analysts forecast that Caterpillar will post 6.45 earnings per share for the current fiscal year.

In other Caterpillar news, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,989 shares of company stock worth $7,235,850. Insiders own 0.14% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Renaissance Investment Group LLC bought a new position in shares of Caterpillar during the 4th quarter valued at about $3,558,000. Prudential Financial Inc. increased its position in shares of Caterpillar by 16.5% during the 3rd quarter. Prudential Financial Inc. now owns 978,716 shares of the industrial products company’s stock valued at $122,055,000 after purchasing an additional 138,343 shares during the last quarter. Atlantic Trust Group LLC increased its position in shares of Caterpillar by 40.9% during the 3rd quarter. Atlantic Trust Group LLC now owns 34,463 shares of the industrial products company’s stock valued at $4,298,000 after purchasing an additional 10,004 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Caterpillar during the 3rd quarter valued at about $6,535,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of Caterpillar by 4.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,642,402 shares of the industrial products company’s stock valued at $204,824,000 after purchasing an additional 73,333 shares during the last quarter. 68.54% of the stock is currently owned by hedge funds and other institutional investors.

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