Caterpillar (NYSE:CAT) had its target price cut by equities researchers at Evercore ISI from $291.00 to $257.00 in a report released on Thursday, The Fly reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s price objective would indicate a potential upside of 36.02% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price for the company. in a report on Wednesday, June 30th. Tigress Financial reaffirmed a “buy” rating and issued a $270.00 target price on shares of Caterpillar in a report on Friday, August 6th. Morgan Stanley reduced their target price on Caterpillar from $172.00 to $165.00 and set an “underweight” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Caterpillar from $258.00 to $241.00 and set a “buy” rating for the company in a report on Monday, August 2nd. Finally, Cowen began coverage on Caterpillar in a report on Thursday. They set an “outperform” rating and a $241.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $231.14.
Shares of CAT opened at $188.94 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.10 and a current ratio of 1.56. The stock has a 50 day moving average price of $204.12 and a two-hundred day moving average price of $218.25. The firm has a market capitalization of $103.44 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.69 and a beta of 0.90. Caterpillar has a 52 week low of $149.63 and a 52 week high of $246.69.
In other news, Director David Maclennan purchased 500 shares of the stock in a transaction on Wednesday, August 4th. The shares were acquired at an average price of $206.20 per share, for a total transaction of $103,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.
Several large investors have recently made changes to their positions in CAT. Camden National Bank grew its stake in shares of Caterpillar by 9.6% during the fourth quarter. Camden National Bank now owns 1,833 shares of the industrial products company’s stock valued at $333,000 after buying an additional 160 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Caterpillar during the first quarter valued at about $222,000. Quilter Plc grew its stake in shares of Caterpillar by 4.1% during the first quarter. Quilter Plc now owns 56,557 shares of the industrial products company’s stock valued at $13,115,000 after buying an additional 2,214 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its stake in shares of Caterpillar by 43.1% during the first quarter. Pin Oak Investment Advisors Inc. now owns 332 shares of the industrial products company’s stock valued at $77,000 after buying an additional 100 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Caterpillar during the first quarter valued at about $465,000. 67.82% of the stock is currently owned by hedge funds and other institutional investors.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
Further Reading: Risk Tolerance
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