In a filing, Caterpillar Inc. revealed its Group President Fassino Anthony D. unloaded Company’s shares for reported $1.51 million on Feb 28 ’24. In the deal valued at $329.80 per share,4,575 shares were sold. As a result of this transaction, Fassino Anthony D. now holds 23,474 shares worth roughly $8.39 million.
Then, MacLennan David bought 350 shares, generating $113,180 in total proceeds. Upon buying the shares at $323.37, the Director now owns 5,238 shares.
Before that, Fassino Anthony D. sold 4,494 shares. Caterpillar Inc. shares valued at $1,446,888 were divested by the Group President at a price of $321.96 per share. As a result of the transaction, Fassino Anthony D. now holds 30,389 shares, worth roughly $10.87 million.
Truist initiated its Caterpillar Inc. [CAT] rating to a Buy in a research note published on March 14, 2024; the price target was $390. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in mid February from “an Outperform” to “an In-line”. TD Cowen also remained covering CAT and reiterated its “an Outperform” recommendation on February 06, 2024. Morgan Stanley started covering the stock on January 08, 2024. It rated CAT as “an Equal-weight”.
Price Performance Review of CAT
On Monday, Caterpillar Inc. [NYSE:CAT] saw its stock jump 0.83% to $357.61. Over the last five days, the stock has lost -1.73%. Caterpillar Inc. shares have risen nearly 20.95% since the year began. Nevertheless, the stocks have risen 60.89% over the past one year. While a 52-week high of $382.01 was reached on 04/08/24, a 52-week low of $204.04 was recorded on 01/17/24. SMA at 50 days reached $346.45, while 200 days put it at $290.29. A total of 2.08 million shares were traded, compared to the trading of 2.93 million shares in the previous session.
Levels Of Support And Resistance For CAT Stock
The 24-hour chart illustrates a support level at 353.23, which if violated will result in even more drops to 348.86. On the upside, there is a resistance level at 361.99. A further resistance level may holdings at 366.38. The Relative Strength Index (RSI) on the 14-day chart is 49.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -9.86, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.69%. Stochastics %K at 14.70% indicates the stock is a buying.
The most recent change occurred on November 20, 2023 when HSBC Securities began covering the stock and recommended ‘”a Hold”‘ rating along with a $250 price target.
