Citigroup Lowers Caterpillar (NYSE:CAT) Price Target to $320.00

Caterpillar (NYSE:CAT) had its price target reduced by equities researchers at Citigroup from $430.00 to $320.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price indicates a potential upside of 6.16% from the stock’s current price.

A number of other equities research analysts also recently issued reports on CAT. JPMorgan Chase & Co. cut their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Evercore ISI increased their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. DA Davidson upped their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial cut their target price on Caterpillar from $438.00 to $389.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Two equities research 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 presently has an average rating of “Hold” and an average target price of $373.20.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $301.43 on Tuesday. Caterpillar has a 12 month low of $267.30 and a 12 month high of $418.50. The stock has a market cap of $144.06 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.87 and a beta of 1.21. The stock’s 50 day moving average price is $336.81 and its 200 day moving average price is $368.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

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

Insider Activity

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. FSM Wealth Advisors LLC lifted its stake in shares of Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 25 shares during the period. Allen Capital Group LLC increased its stake in shares of Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC boosted its stake in Caterpillar by 4.0% during the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 26 shares during the last quarter. Channel Wealth LLC grew its holdings in Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 27 shares during the period. Finally, Total Clarity Wealth Management Inc. increased its stake in Caterpillar by 0.6% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock valued at $1,586,000 after purchasing an additional 27 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

About Caterpillar

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.