Stifel Nicolaus Downgrades Caterpillar (NYSE:CAT) to Hold

Caterpillar (NYSE:CAT - Get Free Report) was downgraded by research analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $350.00 price objective on the industrial products company's stock, up from their previous price objective of $293.00. Stifel Nicolaus' target price would indicate a potential upside of 1.93% from the company's current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a "buy" rating and a $390.00 price target on the stock. Citigroup upped their price target on shares of Caterpillar from $255.00 to $340.00 and gave the company a "neutral" rating in a report on Monday, February 12th. Wells Fargo & Company upped their price target on shares of Caterpillar from $290.00 to $325.00 and gave the company an "equal weight" rating in a report on Tuesday, February 6th. Finally, Robert W. Baird upped their price target on shares of Caterpillar from $210.00 to $257.00 and gave the company an "underperform" rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Hold" and an average price target of $310.83.

Caterpillar Stock Up 1.6 %

NYSE CAT traded up $5.37 on Friday, hitting $343.37. The stock had a trading volume of 3,324,221 shares, compared to its average volume of 2,496,459. The business's fifty day moving average price is $349.67 and its 200 day moving average price is $300.30. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. Caterpillar has a 52-week low of $204.04 and a 52-week high of $382.01. The stock has a market cap of $171.48 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Equities research analysts anticipate that Caterpillar will post 21.3 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 4,575 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now owns 23,474 shares of the company's stock, valued at approximately $7,741,725.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, Director David Maclennan acquired 350 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was bought at an average price of $323.37 per share, with a total value of $113,179.50. Following the purchase, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now directly owns 23,474 shares of the company's stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders sold a total of 35,769 shares of company stock worth $11,508,906 in the last 90 days. Insiders own 0.33% of the company's stock.

Institutional Trading of Caterpillar

Hedge funds have recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar in the 1st quarter valued at approximately $27,000. Partnership Wealth Management LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Vima LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $30,000. Finally, Gilfoyle & Co LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $30,000. Hedge funds and other 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.