Caterpillar Inc. (NYSE:CAT) shot up 10.3% during trading on Tuesday . The stock traded as high as $102.03 and last traded at $101.34, 7,409,470 shares were traded during trading. An increase of 61% from the average session volume of 4,605,325 shares. The stock had previously closed at $91.85.
Several research firms recently commented on CAT. Standpoint Research cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Deutsche Bank raised their target price on Caterpillar from $123.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Royal Bank of Canada decreased their target price on Caterpillar from $152.00 to $145.00 and set a “positive” rating for the company in a research note on Monday, February 3rd. Daiwa Capital Markets upgraded Caterpillar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $143.00 to $165.00 in a report on Tuesday, January 21st. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $100.00 in a report on Wednesday, March 18th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $134.89.
The company has a debt-to-equity ratio of 1.80, a current ratio of 1.47 and a quick ratio of 1.05. The stock has a fifty day moving average price of $121.81 and a two-hundred day moving average price of $134.44. The company has a market cap of $50.53 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44.
In other news, CAO Gary Michael Marvel sold 589 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $137.83, for a total value of $81,181.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.37% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Resources Management Corp CT ADV bought a new stake in Caterpillar during the third quarter worth $1,513,000. Stonebridge Capital Management Inc. lifted its holdings in Caterpillar by 3.6% during the fourth quarter. Stonebridge Capital Management Inc. now owns 20,687 shares of the industrial products company’s stock worth $3,055,000 after acquiring an additional 725 shares during the period. Thomasville National Bank lifted its holdings in Caterpillar by 11.7% during the fourth quarter. Thomasville National Bank now owns 3,580 shares of the industrial products company’s stock worth $529,000 after acquiring an additional 375 shares during the period. Stillwater Investment Management LLC lifted its holdings in Caterpillar by 10.3% during the fourth quarter. Stillwater Investment Management LLC now owns 17,539 shares of the industrial products company’s stock worth $2,590,000 after acquiring an additional 1,631 shares during the period. Finally, Adams Diversified Equity Fund Inc. bought a new stake in Caterpillar during the fourth quarter worth $13,897,000. Institutional investors and hedge funds own 67.12% of the company’s stock.
About Caterpillar (NYSE:CAT)
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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