Caterpillar (NYSE:CAT) Rating Downgrade

Deutsche Bank has cut Caterpillar (NYSE:CAT) Stock to “Hold” in a research report sent to clients and investors on 23 June, and has set a 12-month TP at $106.0. CAT’s old rating was “Buy”.

The firm’s rating downgrade was noticed by stock investors, as NYSE:CAT is at the moment trading 0.00% lower at $103.84 as of 8:05 AM New York time. Caterpillar’s stock is 0% over the last 200 days. It has underperformed the S&P500, which has risen 6.00% over the same time period.

According to data compiled by Thomson Reuters, Caterpillar (NYSE:CAT)’s stock is covered by 18 equity analysts across the Street, with 5 analysts giving it a Sell rating, 1 a Buy rating, while 16 consider it a Hold. The 12-month consensus target price for the stock is $67.56, which reflects an downside potential of 34.94% over the current price.

Institutional Ownership

San Francisco Sentry Investment Group (Ca) had the most significant stake with ownership of 165,480 shares as of Q2 2015 for 8.69% of the stocks portfolio. American Investment Services Inc. is another bull as the investment manager who is possessing 232,566 shares of Caterpillar or 8.59% of their stocks portfolio. In addition, Bill & Melinda Gates Foundation Trust have 5.42% of their stocks portfolio invested in the company for 11.26 million shares. The Indiana-based fund Kessler Investment Group Llc revealed it had bought so far a stake worth about 4.26% of the investment manager’s stock portfolio in Caterpillar. The Colorado-based fund Stewart West Indies Trading Co. Ltd is also positive about the stock, possessing 33,167 shares or 4.23% of their stocks portfolio.

Caterpillar (NYSE:CAT) Profile

Caterpillar Inc. is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Caterpillar (NYSE:CAT) closed at $103.84 yesterday. A total of 11,944 shares of the company’s stock traded hands. This is down from average of 4.47M shares. Caterpillar has a 52 week low of $70.53 and a 52 week high of $108.18. The company has a market cap of $61.40B and a P/E ratio of 0.

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The post Caterpillar (NYSE:CAT) was Downgraded by Equity Research Analysts at Deutsche Bank from a “Buy” Rating to “Hold” Rating. The Target Price per Share is Set to to $106.0 appeared first on Octafinance.