Vetr Downgrades Caterpillar (CAT) to Hold
Vetr downgraded shares of Caterpillar (NYSE:CAT) from a buy rating to a hold rating in a research report report published on Monday. They currently have $166.15 price target on the industrial products company’s stock.
Several other brokerages have also recently issued reports on CAT. Barclays set a $180.00 price objective on Caterpillar and gave the company an overweight rating in a research note on Wednesday, January 24th. Bank of America lifted their price objective on Caterpillar from $189.00 to $192.00 and gave the company a buy rating in a research note on Friday, January 26th. Wells Fargo & Co lifted their price objective on Caterpillar from $160.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, January 18th. BMO Capital Markets lifted their price objective on Caterpillar from $150.00 to $165.00 and gave the company an outperform rating in a research note on Thursday, October 26th. Finally, Jefferies Group reiterated a hold rating and issued a $170.00 price objective on shares of Caterpillar in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Caterpillar has an average rating of Buy and a consensus price target of $167.60.
Caterpillar (NYSE:CAT) opened at $156.29 on Monday. The firm has a market capitalization of $92,980.00, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97. Caterpillar has a 52-week low of $90.34 and a 52-week high of $173.24.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is 59.66%.
In related news, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the sale, the general counsel now owns 19,646 shares in the company, valued at $3,152,397.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the sale, the insider now owns 96,268 shares of the company’s stock, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,574 shares of company stock valued at $16,413,346. 0.14% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its stake in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares during the last quarter. Gradient Investments LLC purchased a new stake in Caterpillar in the fourth quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd purchased a new stake in Caterpillar in the fourth quarter valued at approximately $131,000. Finally, Clearbridge LLC purchased a new stake in Caterpillar in the fourth quarter valued at approximately $140,000. Hedge funds and other institutional investors own 68.70% of the company’s stock.
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Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
To view Vetr’s full report, visit Vetr’s official website.
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