Truist Financial Lowers Caterpillar (NYSE:CAT) Price Target to $438.00

Caterpillar (NYSE:CAT) had its price target decreased by research analysts at Truist Financial from $455.00 to $438.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target indicates a potential upside of 20.76% from the stock’s current price.

Several other analysts have also recently weighed in on CAT. JPMorgan Chase & Co. reduced their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a report on Monday, January 13th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Citigroup boosted their target price on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird increased their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $381.00.

Caterpillar Stock Down 2.4 %

CAT stock traded down $8.74 during midday trading on Monday, hitting $362.71. The company’s stock had a trading volume of 1,511,034 shares, compared to its average volume of 2,297,946. The firm has a 50-day simple moving average of $380.88 and a 200-day simple moving average of $371.17. The firm has a market capitalization of $175.11 billion, a P/E ratio of 16.40, a PEG ratio of 1.95 and a beta of 1.12. 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 has a 52-week low of $307.05 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 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%. As a group, equities analysts forecast that Caterpillar will post 21.45 EPS for the current year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,236 shares of company stock valued at $12,102,371 in the last ninety days. Insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

A number of institutional investors have recently modified their holdings of CAT. Capital Performance Advisors LLP acquired a new stake in Caterpillar in the third quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at about $34,000. Kimelman & Baird LLC boosted its holdings in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Albion Financial Group UT grew its position in Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares during the period. Finally, Trivant Custom Portfolio Group LLC increased its holdings in Caterpillar by 130.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.