Caterpillar (NYSE:CAT) PT Lowered to $161.00 at Morgan Stanley

Caterpillar (NYSE:CATGet Rating) had its target price decreased by research analysts at Morgan Stanley from $164.00 to $161.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 12.11% from the company’s current price.

CAT has been the subject of several other research reports. Wells Fargo & Company initiated coverage on Caterpillar in a report on Friday, March 11th. They issued an “equal weight” rating and a $231.00 price target for the company. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Caterpillar in a report on Thursday, May 19th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, March 28th. Tigress Financial lifted their price target on Caterpillar from $278.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Caterpillar from $250.00 to $240.00 in a research report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $243.50.

CAT stock traded down $4.65 during trading on Thursday, reaching $183.18. 77,668 shares of the company traded hands, compared to its average volume of 2,671,653. Caterpillar has a 12 month low of $179.67 and a 12 month high of $237.90. The business has a 50 day simple moving average of $212.90 and a 200 day simple moving average of $210.54. The company has a market capitalization of $97.70 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.93 and a current ratio of 1.44.

Caterpillar (NYSE:CATGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.22. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.49 billion. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.87 earnings per share. As a group, research analysts forecast that Caterpillar will post 12.64 EPS for the current year.

In other news, Director David Maclennan purchased 600 shares of the stock in a transaction dated Thursday, May 5th. The shares were purchased at an average cost of $219.82 per share, with a total value of $131,892.00. Following the completion of the purchase, the director now directly owns 2,480 shares of the company’s stock, valued at approximately $545,153.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Suzette M. Long sold 3,816 shares of Caterpillar stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $235.00, for a total value of $896,760.00. Following the completion of the sale, the general counsel now directly owns 10,549 shares in the company, valued at $2,479,015. The disclosure for this sale can be found here. Insiders sold 11,577 shares of company stock worth $2,663,056 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC lifted its stake in shares of Caterpillar by 322.6% in the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Nauset Wealth Management. LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at $29,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Caterpillar in the 1st quarter valued at $33,000. Sierra Capital LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at $38,000. Finally, Core Alternative Capital raised its holdings in shares of Caterpillar by 786.4% in the 1st quarter. Core Alternative Capital now owns 195 shares of the industrial products company’s stock valued at $43,000 after buying an additional 173 shares during the period. 67.44% of the stock is currently owned by institutional investors and hedge funds.

About Caterpillar (Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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