Caterpillar (NYSE:CAT) Hits New 1-Year Low After Analyst Downgrade

Caterpillar Inc. (NYSE:CATGet Rating) shares hit a new 52-week low on Thursday after Morgan Stanley lowered their price target on the stock from $164.00 to $161.00. Morgan Stanley currently has an underweight rating on the stock. Caterpillar traded as low as $177.68 and last traded at $178.53, with a volume of 202142 shares. The stock had previously closed at $187.83.

CAT has been the topic of a number of other research reports. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Caterpillar in a research note on Thursday, May 19th. Jefferies Financial Group raised Caterpillar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $215.00 to $260.00 in a research note on Tuesday, March 8th. Wells Fargo & Company started coverage on Caterpillar in a research report on Friday, March 11th. They set an “equal weight” rating and a $231.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Caterpillar from $241.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, March 28th. Finally, Tigress Financial raised their price objective on Caterpillar from $278.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, May 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.50.

In related news, Director David Maclennan bought 600 shares of Caterpillar stock in a transaction that occurred on Thursday, May 5th. The stock was purchased at an average cost of $219.82 per share, for a total transaction of $131,892.00. Following the acquisition, the director now owns 2,480 shares in the company, valued at $545,153.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph E. Creed sold 5,004 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $235.00, for a total value of $1,175,940.00. Following the completion of the sale, the insider now owns 2,757 shares of the company’s stock, valued at $647,895. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,577 shares of company stock valued at $2,663,056. 0.18% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Waypoint Capital Advisors LLC increased its position in Caterpillar by 3.0% in the 1st quarter. Waypoint Capital Advisors LLC now owns 1,520 shares of the industrial products company’s stock worth $338,000 after buying an additional 44 shares during the period. Cornell Pochily Investment Advisors Inc. increased its position in shares of Caterpillar by 0.7% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 6,784 shares of the industrial products company’s stock valued at $1,403,000 after purchasing an additional 46 shares during the period. Ballast Inc. increased its position in shares of Caterpillar by 1.7% during the first quarter. Ballast Inc. now owns 2,880 shares of the industrial products company’s stock valued at $641,000 after purchasing an additional 47 shares during the period. Next Level Private LLC increased its position in shares of Caterpillar by 3.9% during the first quarter. Next Level Private LLC now owns 1,267 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 47 shares during the period. Finally, Indiana Trust & Investment Management CO increased its position in shares of Caterpillar by 1.5% during the fourth quarter. Indiana Trust & Investment Management CO now owns 3,396 shares of the industrial products company’s stock valued at $702,000 after purchasing an additional 50 shares during the period. 67.44% of the stock is currently owned by institutional investors.

The firm has a market capitalization of $95.29 billion, a P/E ratio of 14.98, a PEG ratio of 1.29 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48. The business has a 50-day moving average price of $211.91 and a 200-day moving average price of $210.39.

Caterpillar (NYSE:CATGet Rating) last released its quarterly earnings data on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.22. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. Caterpillar’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.87 earnings per share. As a group, sell-side analysts forecast that Caterpillar Inc. will post 12.64 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be paid a $1.20 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $4.80 annualized dividend and a yield of 2.69%. Caterpillar’s payout ratio is currently 37.22%.

Caterpillar Company Profile (NYSE:CAT)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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