Caterpillar (NYSE:CAT) Raised to Hold at ValuEngine

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Caterpillar (NYSE:CAT) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday, November 1st, ValuEngine reports.

Several other equities analysts have also commented on the company. Credit Suisse Group reissued a “buy” rating and set a $150.00 price target on shares of Caterpillar in a research report on Thursday, October 24th. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 14th. Bank of America boosted their price target on Caterpillar from $145.00 to $154.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Co lowered Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price target on the stock. in a research report on Wednesday, September 11th. Finally, Citigroup reduced their price target on Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $138.76.

Shares of NYSE:CAT traded up $1.15 during midday trading on Friday, hitting $148.16. 2,714,785 shares of the stock were exchanged, compared to its average volume of 4,321,513. The stock has a market cap of $80.89 billion, a P/E ratio of 13.20, a PEG ratio of 1.54 and a beta of 1.53. The company has a 50 day moving average price of $131.66 and a 200-day moving average price of $129.08. Caterpillar has a twelve month low of $111.75 and a twelve month high of $148.40. The company has a current ratio of 1.44, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.16). The company had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.86 EPS. On average, equities research analysts expect that Caterpillar will post 10.89 earnings per share for the current year.

In other news, insider Denise C. Johnson sold 4,172 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $146.67, for a total value of $611,907.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gary Michael Marvel sold 2,180 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $139.38, for a total value of $303,848.40. Following the completion of the sale, the chief accounting officer now owns 2,180 shares of the company’s stock, valued at approximately $303,848.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,141 shares of company stock valued at $13,717,142. Insiders own 0.37% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tortoise Investment Management LLC lifted its holdings in shares of Caterpillar by 3,600.0% during the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 180 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new stake in Caterpillar in the 2nd quarter worth about $27,000. Private Ocean LLC increased its position in Caterpillar by 62.9% in the 3rd quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. G&S Capital LLC acquired a new position in Caterpillar in the 3rd quarter worth about $38,000. Finally, Kavar Capital Partners LLC acquired a new position in Caterpillar in the 2nd quarter worth about $46,000. 65.74% of the stock is owned by institutional investors and hedge funds.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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