Caterpillar, Inc. (CAT) Upgraded by Vetr Inc. to “Hold”

Vetr upgraded shares of Caterpillar, Inc. (NYSE:CAT) from a sell rating to a hold rating in a report released on Tuesday. They currently have $124.44 price objective on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on the company. Goldman Sachs Group, Inc. (The) raised their price target on Caterpillar from $143.00 to $158.00 and gave the company a buy rating in a research report on Monday. Deutsche Bank AG restated a hold rating and set a $121.00 price target (up previously from $120.00) on shares of Caterpillar in a research report on Monday. ValuEngine downgraded Caterpillar from a buy rating to a hold rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded Caterpillar from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. Finally, Credit Suisse Group restated a hold rating and set a $133.00 price target on shares of Caterpillar in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $115.98.

Shares of Caterpillar (CAT) opened at 128.19 on Tuesday. The company has a market cap of $75.76 billion, a price-to-earnings ratio of 716.15 and a beta of 1.26. The company’s 50-day moving average price is $121.39 and its 200-day moving average price is $108.72. Caterpillar has a 12 month low of $80.33 and a 12 month high of $128.29.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts anticipate that Caterpillar will post $5.25 EPS for the current year.

WARNING: This piece of content was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of US and international copyright law. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2017/10/11/caterpillar-inc-cat-upgraded-by-vetr-inc-to-hold.html.

In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,471 shares of company stock worth $22,979,332. Insiders own 0.14% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. NGAM Advisors L.P. boosted its position in shares of Caterpillar by 2.9% in the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after purchasing an additional 2,286 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Caterpillar by 527.0% in the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after purchasing an additional 164,989 shares in the last quarter. Bancorpsouth Inc. boosted its position in shares of Caterpillar by 1.2% in the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 69 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $46,917,000. Finally, State of Tennessee Treasury Department boosted its position in shares of Caterpillar by 58.4% in the 1st quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock worth $26,746,000 after purchasing an additional 106,270 shares in the last quarter. 69.24% of the stock is currently owned by hedge funds and other institutional investors.

About Caterpillar

Analyst Recommendations for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply