Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Caterpillar Inc. shares valued at $590,356 were sold by Creed Joseph E on May 18. At $214.13 per share, Creed Joseph E sold 2,757 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, MacLennan David purchased 600 shares, netting a total of over 131,892 in proceeds. Following the buying of shares at $219.82 each, the insider now holds 2,480 shares.
Before that, De Lange Bob had sold 11,718 shares from its account. In a trade valued at $2,780,096, the Group President traded Caterpillar Inc. shares for $237.25 each. Upon closing the transaction, the insider’s holdings decreased to 11,718 shares, worth approximately $8.23 million.
As published in their initiating research note from Wells Fargo on March 11, 2022, Caterpillar Inc. [CAT] has been an Equal weight and the price target has been revised to $231. This represents a 18.69% premium over Wednesday’s closing price. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of January 12, 2022, UBS has reiterated its “Buy” rating for CAT. Earlier on December 22, 2021, Bernstein upgraded its rating. Their new recommendation was “an Outperform” for CAT stock which previously was a “a Mkt perform”.
Analyzing CAT’s Price Performance
On Wednesday, Caterpillar Inc. [NYSE: CAT] plunged -4.35% to $187.83. The stock’s lowest price that day was $187.705, but it reached a high of $192.79 in the same session. During the last five days, there has been a drop of approximately -9.12%. Over the course of the year, Caterpillar Inc. shares have dropped approximately -9.15%. Shares of the company reached a 52-week high of $237.90 on 04/21/22 and a 52-week low of $179.67 on 02/24/22. A 50-day SMA is recorded $213.17, while a 200-day SMA reached $207.26. Nevertheless, trading volume fell to 4.0 million shares from 2.76 million shares the previous day.
Support And Resistance Levels for Caterpillar Inc. (CAT)
According to the 24-hour chart, there is a support level at 186.09, which, if violated, would cause prices to drop to 184.36. In the upper region, resistance lies at 191.18. The next price resistance is at 194.53. RSI (Relative Strength Index) is 31.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -18.68, which suggests the price will decrease in the coming days. Percent R is at 99.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Caterpillar Inc. subject to short interest?
Stocks of Caterpillar Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.15 million shares to 5.02 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 4.87 million shares. A jump of 2.99% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.51 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.51.
Which companies own the most shares of Caterpillar Inc. (CAT)?
According to The Vanguard Group, Inc. filings, the company currently owns 45,980,221 shares, which is about 8.62% of the total CAT shares outstanding. The investor’s shares have appreciated by 709,540 from its previous 13-F filing of 45270681.0 shares. With the completion of the sale, SSgA Funds Management, Inc.’s stake is now worth $8,808,501,342. BlackRock Fund Advisors acquire a 1.05% interest valued at $5.2 billion while Capital Research & Management Co purchased a 6,861,936 stake. A total of 0 shares of Caterpillar Inc. were bought by State Farm Investment Management during the quarter, and 160,943 were bought by Geode Capital Management LLC. In its current portfolio, Northern Trust Investments, Inc. holds 7,358,260 shares valued at $1.59 billion.
In terms of Caterpillar Inc. share price expectations, FactSet research, analysts set an average price target of $239.91 in the next 12 months, up nearly 22.22% from the previous closing price of $196.37. Analysts anticipate Caterpillar Inc. stock to reach $350.00 by 2022, with the lowest price target being $164.00. On October 29, 2021, UBS assigned a price target of “a Buy” to the stock and upgraded coverage with a $235.