Caterpillar Inc. (NYSE:CAT) was downgraded by stock analysts at Vetr from a “sell” rating to a “strong sell” rating in a report issued on Wednesday. They currently have a $84.86 price target on the stock. Vetr‘s price objective would indicate a potential downside of 11.20% from the stock’s current price.

Several other equities research analysts also recently issued reports on CAT. Credit Suisse Group AG set a $101.00 price target on Caterpillar and gave the company a “buy” rating in a report on Saturday, November 19th. Barclays PLC lifted their target price on Caterpillar from $78.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 12th. Morgan Stanley reissued an “equal weight” rating and set a $80.00 target price on shares of Caterpillar in a report on Wednesday, October 26th. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Thursday, October 13th. Finally, Jefferies Group lifted their target price on Caterpillar from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.07.

Analyst Recommendations for Caterpillar (NYSE:CAT)

Caterpillar (NYSE:CAT) traded up 1.62% during midday trading on Wednesday, hitting $95.56. 4,641,863 shares of the stock traded hands. Caterpillar has a 12-month low of $56.36 and a 12-month high of $96.44. The stock has a market capitalization of $55.91 billion, a PE ratio of 92.96 and a beta of 1.30. The firm’s 50 day moving average is $88.74 and its 200-day moving average is $82.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. Caterpillar had a return on equity of 12.79% and a net margin of 2.54%. The business earned $9.16 billion during the quarter, compared to the consensus estimate of $9.91 billion. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was down 16.4% on a year-over-year basis. On average, analysts anticipate that Caterpillar will post $3.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, November 19th. Shareholders of record on Monday, October 24th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 179.07%.

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In other Caterpillar news, Director Daniel M. Dickinson sold 950 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $93.52, for a total value of $88,844.00. Following the transaction, the director now directly owns 17,476 shares of the company’s stock, valued at $1,634,355.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of CAT. Patten Group Inc. raised its position in shares of Caterpillar by 0.4% in the third quarter. Patten Group Inc. now owns 1,148 shares of the company’s stock valued at $100,000 after buying an additional 5 shares during the period. American Money Management LLC raised its position in shares of Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock valued at $291,000 after buying an additional 11 shares during the period. Pitcairn Co. raised its position in shares of Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock valued at $250,000 after buying an additional 14 shares during the period. Steinberg Global Asset Management raised its position in shares of Caterpillar by 0.5% in the third quarter. Steinberg Global Asset Management now owns 3,042 shares of the company’s stock valued at $270,000 after buying an additional 15 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Caterpillar by 1.3% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,533 shares of the company’s stock valued at $135,000 after buying an additional 20 shares during the period. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.

5 Day Chart for NYSE:CAT

To view Vetr’s full report, visit Vetr’s official website.

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