Caterpillar (NYSE:CAT) Price Target Cut to $435.00 by Analysts at Citigroup

Caterpillar (NYSE:CAT) had its target price reduced by investment analysts at Citigroup from $445.00 to $435.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price suggests a potential upside of 15.63% from the stock’s previous close.

A number of other analysts have also commented on CAT. Truist Financial lifted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $357.56.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $3.04 during midday trading on Thursday, reaching $376.20. The company had a trading volume of 2,372,182 shares, compared to its average volume of 2,628,832. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $182.42 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The stock has a fifty day simple moving average of $371.10 and a 200 day simple moving average of $351.14. Caterpillar has a 1-year low of $223.76 and a 1-year high of $403.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.52 EPS. As a group, equities research analysts forecast that Caterpillar will post 21.91 earnings per share for the current year.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at about $28,000. Fairscale Capital LLC acquired a new position in Caterpillar in the 2nd quarter valued at about $36,000. POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares during the last quarter. Finally, TruNorth Capital Management LLC grew its stake in Caterpillar by 215.4% in the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after buying an additional 84 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.