Caterpillar (NYSE:CAT) Price Target Cut to $435.00 by Analysts at Citigroup

Caterpillar (NYSE:CAT) had its price target dropped by Citigroup from $445.00 to $435.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 15.63% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Barclays boosted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus target price of $357.56.

Caterpillar Price Performance

Shares of NYSE CAT traded down $3.04 during trading on Thursday, hitting $376.20. The company had a trading volume of 2,372,182 shares, compared to its average volume of 2,628,832. The business’s 50-day moving average is $371.10 and its 200 day moving average is $351.14. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar has a 52 week low of $223.76 and a 52 week high of $403.60. The company has a market cap of $182.42 billion, a P/E ratio of 17.13, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the firm earned $5.52 earnings per share. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts predict that Caterpillar will post 21.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CAT. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the second quarter worth about $28,000. Fairscale Capital LLC acquired a new position in Caterpillar in the second quarter worth about $36,000. POM Investment Strategies LLC raised its position in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC raised its position in Caterpillar by 215.4% in the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.