Group President Creed Joseph E sale 2,757 shares of Caterpillar Inc. [CAT]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $8.05 million.

As published in a research note from Bernstein on August 03, 2022, Caterpillar Inc. [CAT] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $195. This represents a 5.83% premium over Thursday’s closing price. Analysts at Wells Fargo started covering the stock with ‘”an Equal weight”‘ outlook in a report released in mid March. As of March 08, 2022, Jefferies has increased its “Hold” rating to a “Buy” for CAT. Earlier on January 12, 2022, UBS resumed its rating. Their recommendation was “a Buy” for CAT stock.

Analyzing CAT’s Price Performance

On Thursday, Caterpillar Inc. [NYSE: CAT] rose 0.42% to $183.64. The stock’s lowest price that day was $181.12, but it reached a high of $185.9311 in the same session. During the last five days, there has been a drop of approximately -2.24%. Over the course of the year, Caterpillar Inc. shares have dropped approximately -11.17%. Shares of the company reached a 52-week high of $237.90 on 04/21/22 and a 52-week low of $167.08 on 07/14/22. A 50-day SMA is recorded $193.11, while a 200-day SMA reached $204.76. Nevertheless, trading volume fell to 2.48 million shares from 4.16 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 181.20, which, if violated, would cause prices to drop to 178.75. In the upper region, resistance lies at 186.01. The next price resistance is at 188.37. RSI (Relative Strength Index) is 48.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 59.19%, indicating low price movement. Stochastics %K at holding 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 Jul 14, 2022 jumping by 70000.0 shares to 5.75 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.68 million shares. A jump of 1.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.59.

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 transaction, SSgA Funds Management, Inc.’s stake is now worth $7,294,916,377. BlackRock Fund Advisors acquire a 1.05% interest valued at $4.31 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 $1.32 billion.

In terms of Caterpillar Inc. share price expectations, FactSet research, analysts set an average price target of $216.70 in the next 12 months, up nearly 18.66% from the previous closing price of $182.87. Analysts anticipate Caterpillar Inc. stock to reach $328.00 by 2022, with the lowest price target being $142.00. In spite of this, 28 analysts ranked Caterpillar Inc. stock as an Overweight at the end of 2022. On December 22, 2021, Bernstein assigned a price target of “an Outperform” to the stock and upgraded coverage with a $240.


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