Caterpillar surged to $379.3 per share this morning, but it remains 19.27% above its mean target price of $318.02. There may still be room for more downwards movement — even after today's 2.6% drop. Analysts are giving the Large-Cap Heavy Machinery stock on average rating of hold, with target prices ranging from $175.0 to $395.0 per share.
The stock has an average amount of shares sold short at 2.9%, and a short ratio of 7.04. The company's insiders own 0.2% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 72.5% of Caterpillar's shares being owned by this investor type.
Institutions Invested in Caterpillar
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Vanguard Group Inc | 10% | 48,353,370 | $18,340,432,650 |
| 2023-12-31 | State Street Corporation | 8% | 37,722,884 | $14,308,289,440 |
| 2023-12-31 | Blackrock Inc. | 7% | 33,510,465 | $12,710,518,965 |
| 2023-12-31 | Capital World Investors | 6% | 29,029,953 | $11,011,060,818 |
| 2023-12-31 | State Farm Mutual Automobile Insurance Co | 4% | 17,761,276 | $6,736,851,769 |
| 2023-12-31 | Geode Capital Management, LLC | 2% | 9,872,982 | $3,744,821,952 |
| 2023-12-31 | Fisher Asset Management, LLC | 2% | 8,139,040 | $3,087,137,772 |
| 2023-12-31 | Bill & Melinda Gates Foundation Trust | 1% | 7,353,614 | $2,789,225,700 |
| 2023-12-31 | Morgan Stanley | 1% | 7,199,614 | $2,730,813,502 |
| 2023-12-31 | Northern Trust Corporation | 1% | 6,653,373 | $2,523,624,297 |
Besides an analyst belief that shares are overpriced, other market factors point to there being negative market sentiment on Caterpillar.
