Caterpillar (NYSE:CAT) Price Target Lowered to $380.00 at JPMorgan Chase & Co.

Caterpillar (NYSE:CAT - Get Free Report) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $490.00 to $380.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 29.33% from the company's previous close.

Several other brokerages have also recently commented on CAT. Morgan Stanley dropped their price target on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Citigroup reduced their target price on shares of Caterpillar from $430.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. DA Davidson increased their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, Raymond James upgraded Caterpillar from a "market perform" rating to an "outperform" rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Hold" and a consensus price target of $361.64.

Caterpillar Stock Up 1.3 %

CAT traded up $3.68 during trading on Monday, hitting $293.82. The stock had a trading volume of 2,716,340 shares, compared to its average volume of 2,639,101. The stock has a 50 day simple moving average of $328.46 and a two-hundred day simple moving average of $364.66. Caterpillar has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a market capitalization of $140.42 billion, a PE ratio of 13.31, a PEG ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, research analysts predict that Caterpillar will post 19.86 earnings per share for the current year.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now owns 6,275 shares of the company's stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds have recently modified their holdings of the business. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar in the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $31,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the 4th quarter worth $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Company Profile

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.