Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Caterpillar Inc. shares valued at $168,695 were purchased by MacLennan David on May 03 ’24. At $337.39 per share, MacLennan David acquired 500 shares. The insider’s holdings grew to 5,738 shares worth approximately $2.02 million following the completion of this transaction.
Also, Fassino Anthony D. sold 4,575 shares, netting a total of over 1,508,835 in proceeds. Following the sale of shares at $329.80 each, the insider now holds 23,474 shares.
Before that, MacLennan David had added 350 shares to its account. In a trade valued at $113,180, the Director bought Caterpillar Inc. shares for $323.37 each. Upon closing the transaction, the insider’s holdings increased to 350 shares, worth approximately $1.84 million.
As published in a research note from TD Cowen on April 26, 2024, Caterpillar Inc. [CAT] has been retained to a Buy and the price target has been revised to $340. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late April. As of March 14, 2024, Truist has initiated its “Buy” rating for CAT. Earlier on February 20, 2024, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for CAT stock which previously was a “an Outperform”.
Analyzing CAT Stock Performance
During the last five days, there has been a surge of approximately 4.87%. Over the course of the year, Caterpillar Inc. shares have jumped approximately 18.98%. Shares of the company reached a 52-week high of $382.01 on 04/08/24 and a 52-week low of $276.94 on 01/17/24. A 50-day SMA is recorded $352.58, while a 200-day SMA reached $296.01. Nevertheless, trading volume fell to 3.21 million shares from 2.26 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 347.18, which, if violated, would cause prices to drop to 342.58. In the upper region, resistance lies at 354.63. The next price resistance is at 357.48. RSI (Relative Strength Index) is 51.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.61, which suggests the price will increase in the coming days. Percent R is at 42.11%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
