Caterpillar (NYSE:CAT) Given New $300.00 Price Target at Morgan Stanley

Caterpillar (NYSE:CAT) had its price target decreased by Morgan Stanley from $330.00 to $300.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective points to a potential downside of 20.21% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Citigroup cut their target price on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. UBS Group raised their price objective on Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a report on Tuesday. Truist Financial lowered their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $382.47.

Caterpillar Stock Performance

NYSE CAT opened at $375.98 on Friday. The stock has a market capitalization of $181.52 billion, a PE ratio of 17.43, a P/E/G ratio of 2.05 and a beta of 1.13. Caterpillar has a 1 year low of $299.93 and a 1 year high of $418.50. The company’s 50 day simple moving average is $381.68 and its two-hundred day simple moving average is $370.78. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last posted 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 59.09% and a net margin of 16.26%. Analysts predict that Caterpillar will post 21.71 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,900 shares of company stock valued at $13,111,601 in the last three months. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after purchasing an additional 10,212 shares during the last quarter. West Wealth Group LLC purchased a new position in Caterpillar in the 4th quarter worth about $230,000. Alpha Cubed Investments LLC lifted its stake in Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Cadinha & Co. LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $11,084,000. Institutional investors own 70.98% of the company’s stock.

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.