Caterpillar (NYSE:CAT) Price Target Lowered to $389.00 at Truist Financial

Caterpillar (NYSE:CAT) had its target price cut by investment analysts at Truist Financial from $438.00 to $389.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 37.10% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Citigroup increased their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $380.53.

Caterpillar Trading Up 1.3 %

Shares of CAT traded up $3.67 during trading hours on Tuesday, reaching $283.73. 784,071 shares of the company traded hands, compared to its average volume of 2,657,231. Caterpillar has a 12 month low of $267.30 and a 12 month high of $418.50. The company has a market capitalization of $135.60 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The company’s fifty day moving average price is $344.52 and its two-hundred day moving average price is $370.76. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities research analysts predict that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its holdings in shares of Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after buying an additional 10,212 shares in the last quarter. West Wealth Group LLC purchased a new position in Caterpillar in the fourth quarter worth $230,000. Cadinha & Co. LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $11,084,000. Atomi Financial Group Inc. boosted its position in shares of Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after purchasing an additional 871 shares in the last quarter. Finally, Copley Financial Group Inc. acquired a new position in Caterpillar during the 3rd quarter valued at about $800,000. Institutional investors 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.