Caterpillar, Inc. (NYSE:CAT) Cut to “Sell” at Vetr Inc.

Vetr cut shares of Caterpillar, Inc. (NYSE:CAT) from a hold rating to a sell rating in a report released on Monday, October 9th. Vetr currently has $122.98 target price on the industrial products company’s stock.

CAT has been the subject of several other reports. BMO Capital Markets raised their price objective on shares of Caterpillar from $130.00 to $150.00 and gave the stock an outperform rating in a research report on Thursday, September 14th. Credit Suisse Group restated a buy rating and set a $123.00 price objective on shares of Caterpillar in a research report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Caterpillar from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. Bank of America Corporation set a $120.00 price objective on shares of Caterpillar and gave the stock a buy rating in a research report on Tuesday, June 20th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $125.00 target price on shares of Caterpillar in a report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the stock. Caterpillar has a consensus rating of Hold and an average price target of $119.82.

Caterpillar (NYSE:CAT) traded up 0.45% on Monday, reaching $131.36. The company’s stock had a trading volume of 3,086,775 shares. The stock’s 50 day moving average is $124.78 and its 200-day moving average is $110.67. Caterpillar has a 52 week low of $80.33 and a 52 week high of $132.12. The firm has a market capitalization of $77.63 billion, a PE ratio of 733.85 and a beta of 1.26.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the business posted $1.09 EPS. Caterpillar’s revenue was up 9.6% on a year-over-year basis. Analysts predict that Caterpillar will post $5.29 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.

In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,471 shares of company stock valued at $22,979,332. Insiders own 0.14% of the company’s stock.

Several large investors have recently bought and sold shares of the company. APG Asset Management N.V. increased its position in shares of Caterpillar by 8.0% during the third quarter. APG Asset Management N.V. now owns 812,899 shares of the industrial products company’s stock worth $101,377,000 after acquiring an additional 60,100 shares in the last quarter. Barometer Capital Management Inc. bought a new stake in shares of Caterpillar during the third quarter worth about $18,245,000. Financial Advisory Service Inc. increased its position in shares of Caterpillar by 21.0% during the third quarter. Financial Advisory Service Inc. now owns 3,874 shares of the industrial products company’s stock worth $483,000 after acquiring an additional 673 shares in the last quarter. Merriman Wealth Management LLC bought a new stake in shares of Caterpillar during the third quarter worth about $295,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Caterpillar by 14.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 186,244 shares of the industrial products company’s stock worth $23,226,000 after acquiring an additional 24,201 shares in the last quarter. 69.23% of the stock is owned by institutional investors.

Caterpillar Company Profile

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

Analyst Recommendations for Caterpillar (NYSE:CAT)

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