Caterpillar (NYSE:CAT) Sets New 12-Month Low – Here’s What Happened

Shares of Caterpillar Inc. (NYSE:CAT) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $305.00 and last traded at $305.75, with a volume of 3735052 shares. The stock had previously closed at $334.66.

Analyst Ratings Changes

Several brokerages have recently commented on CAT. DA Davidson boosted their price objective on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wedbush upgraded Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Evercore ISI lifted their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Price Performance

The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $137.44 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The firm’s 50 day simple moving average is $346.83 and its 200 day simple moving average is $371.19.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction 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. The trade was a 18.12 % 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.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently made changes to their positions in CAT. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar in the 4th quarter worth $31,000. Finally, Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar during the 4th quarter worth $33,000. Institutional investors own 70.98% of the company’s stock.

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.