Caterpillar Inc (NYSE:CAT) Rating Reaffirmed
Equity research analysts at Goldman Sachs now has a $67.00 target PPS on Caterpillar Inc (NYSE:CAT). Goldman Sachs and their recent target PPS means a potential downside of -4.24% from the company’s stock close price. The rating has been revealed to investors in recent note on 7 December.
From a total of 20 analysts covering Caterpillar Inc. (NYSE:CAT) stock, 4 rate it a ”Buy”, 3 a “Sell”, and 19 a ”Hold”. This means that 15% of the ratings are positive. The highest target price is $86 while the lowest target price is $58. The mean of all analyst targets is $70.25 with a -1.39% below today’s ($69.97) stock price. Caterpillar Inc. was the topic of 22 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. S&P Research downgraded shares on October 23 to “Sell” rating. Macquarie Research maintained shares with “Underperform” rating and $58 target share price in a report from a September 25. Barclays Capital initiated CAT stock in a recent report from September 25 with “Equal Weight” rating. Citigroup maintained the rating on September 25. Citigroup has a “Neutral” rating and a $70 price target on shares. Finally, BMO Capital Markets maintained the stock with “Market Perform” rating in a report issued on a September 25.
The stock decreased 0.01% or $0.01 during the last trading session, striking $69.97. Approximately 3,604 shares of stock traded hands. Caterpillar Inc. (NYSE:CAT) has declined 19.84% since May 4, 2015 and is downtrending. It has underperformed by 18.76% the S&P500.
The overall sentiment of institutions has decreased to 0.82 in Q2 2015. Its down 0.06, from 0.88 in 2015Q2. The ratio dived, as 142 institutions have sold all the shares of Caterpillar Inc. that they owned while 397 funds have taken shares off the table. 74 funds have purchased shares for the first time while 367 added to their positions. These institutions now hold 403.94 million shares or 3.35% more than the 390.85 million shares they owned in 2015Q2.
The Fund San Francisco Sentry Investment Group (Ca) currently is holding shares equating to 12.23% of its total portfolio in Caterpillar Inc. representing a total of 265,623 shares. Another fund,Bill & Melinda Gates Foundation Trust, is holding a total of 11.26 million shares equating to 4.27% of their holdings. Additionally, Community Bank Of Raymore has a 93,899 share stake in Caterpillar Inc. which represents 3.52% of their total portfolio. The Fund, Stewart West Indies Trading Co. Ltd, based out of Colorado, has also built up a stake in the stock, which represents a total of 3.43% of their total portfolio. Finally Westchester Capital Management Inc., a fund which is based in the state of Nebraska reported a total holdings of 95,064 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 12, 2015, shareholders of Caterpillar Inc. have witnessed 0 buys, and a total of 1 insider sale equating to a net activity of approximately $915,064 . Halverson Bradley M sold 11,867 shares worth approximately $915,064. Dickinson Daniel M sold 807 shares worth approximately $70,286.
Caterpillar Inc. is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company has a market cap of $40.74 billion. The Firm principally operates through its three product divisions: Resource Industries, Construction Industries, and Energy & Transportation. It has 14.52 P/E ratio. The Firm also provides financing and related services through its Financial Products segment.
According to Zacks Investment Research, “Caterpillar Inc is the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company is one of only a handful of U.S. companies that leads its industry while competing globally from a principally domestic manufacturing base. The company records more than half of its sales to overseas customers. Their products are used in the construction, road building, mining, forestry, energy, transportation and material-handling industries.” Get a free copy of the Zacks research report on Caterpillar Inc. (CAT).