Caterpillar (CAT) Downgraded by Vetr

Vetr cut shares of Caterpillar (NYSE:CAT) from a sell rating to a strong sell rating in a research note released on Wednesday. Vetr currently has $139.26 target price on the industrial products company’s stock.

CAT has been the topic of a number of other research reports. BMO Capital Markets restated a buy rating and set a $130.00 price target on shares of Caterpillar in a research note on Friday, September 8th. Jefferies Group restated a hold rating and set a $100.00 price target on shares of Caterpillar in a research note on Tuesday, August 29th. Credit Suisse Group restated a hold rating and set a $133.00 price target on shares of Caterpillar in a research note on Friday, September 22nd. Goldman Sachs Group raised their price target on Caterpillar from $143.00 to $158.00 and gave the stock a buy rating in a research note on Monday, October 9th. Finally, Zacks Investment Research raised Caterpillar from a hold rating to a buy rating and set a $142.00 price objective for the company in a research report on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $140.14.

Caterpillar (NYSE:CAT) opened at $157.58 on Wednesday. The stock has a market capitalization of $93,749.70, a P/E ratio of 28.39, a P/E/G ratio of 2.36 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. Caterpillar has a 12 month low of $90.34 and a 12 month high of $158.65.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.68. The firm had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. analysts expect that Caterpillar will post 6.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 1.98%. Caterpillar’s dividend payout ratio is currently 216.67%.

In other news, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now directly owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Insiders sold a total of 52,989 shares of company stock valued at $7,235,850 over the last three months. Insiders own 0.14% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after purchasing an additional 2,377,623 shares during the last quarter. FMR LLC raised its holdings in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after purchasing an additional 2,052,300 shares during the last quarter. Jennison Associates LLC raised its holdings in Caterpillar by 140.9% during the third quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock worth $327,653,000 after purchasing an additional 1,536,470 shares during the last quarter. Balyasny Asset Management LLC raised its holdings in Caterpillar by 663.8% during the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock worth $110,990,000 after purchasing an additional 1,216,053 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Caterpillar by 61.7% during the second quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock worth $268,768,000 after purchasing an additional 954,200 shares during the last quarter. 68.54% of the stock is owned by institutional investors and hedge funds.

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About Caterpillar

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