Caterpillar (NYSE:CAT) Upgraded at Melius

Caterpillar (NYSE:CAT - Get Free Report) was upgraded by equities research analysts at Melius from a "hold" rating to a "buy" rating in a report released on Wednesday, Marketbeat Ratings reports. The firm presently has a $500.00 price objective on the industrial products company's stock. Melius' price objective suggests a potential upside of 23.23% from the stock's current price.

CAT has been the topic of a number of other research reports. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. Truist Financial upped their target price on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Robert W. Baird upped their target price on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. decreased their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $404.64.

Caterpillar Stock Down 0.6%

CAT traded down $2.60 on Wednesday, hitting $405.73. The company had a trading volume of 2,072,409 shares, compared to its average volume of 2,530,412. The stock has a fifty day moving average price of $360.79 and a 200-day moving average price of $348.06. Caterpillar has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The stock has a market capitalization of $191.12 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 2.70 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 EPS. Caterpillar's revenue was down 9.8% on a year-over-year basis. Analysts predict that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Caterpillar

Hedge funds have recently modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $26,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar in the second quarter valued at about $32,000. Investment Management Corp VA ADV acquired a new stake in Caterpillar during the fourth quarter worth about $33,000. Finally, Compass Financial Services Inc increased its position in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 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.