Caterpillar (CAT) was Downgraded to a Hold Rating at Wells Fargo

By Ryan Adsit

In a report released yesterday, Andy Casey from Wells Fargo downgraded Caterpillar (CATResearch Report) to Hold. The company’s shares closed last Monday at $133.09.

According to, Casey is a 4-star analyst with an average return of 6.7% and a 50.0% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Parker Hannifin, Navistar, and Deere.

Currently, the analyst consensus on Caterpillar is a Hold with an average price target of $136.53.

See today’s analyst top recommended stocks >>

Based on Caterpillar’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $14.43 billion and net profit of $1.62 billion. In comparison, last year the company earned revenue of $14.01 billion and had a net profit of $1.71 billion.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Caterpillar, Inc. engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.