5 Trending Stocks to Watch on Monday

3. Caterpillar Inc. (NYSE:CAT)

Number of Hedge Fund Holders: 45

Shares of Caterpillar Inc. (NYSE:CAT) slightly moved down on Monday morning after UBS analyst Steven Fisher cut his ratings for the construction equipment maker from “Buy” to “Neutral.”

Fisher believes the company’s valuation offers a more balanced risk/reward at the moment. On the positive side, he increased his price target for Caterpillar Inc. (NYSE:CAT) from $225 per share to $230 per share.

The latest coverage came just days after Caterpillar Inc. (NYSE:CAT) surpassed profit and sales expectations for the third quarter. The Illinois-based company reported adjusted earnings of $3.95 per share on revenue of $15 billion for the period.

Speaking on the results, CEO Jim Umpleby said:

“I’d like to thank our global Caterpillar team for delivering another quarter of double-digit top-line growth and record adjusted profit per share. Our team remains focused on serving our customers as we continued to see healthy demand across most of our end markets during the third quarter.”

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