Investors Sell Shares of Caterpillar Inc. (CAT) on Strength (CAT)
Traders sold shares of Caterpillar Inc. (NYSE:CAT) on strength during trading hours on Thursday. $78.55 million flowed into the stock on the tick-up and $109.12 million flowed out of the stock on the tick-down, for a money net flow of $30.57 million out of the stock. Of all companies tracked, Caterpillar had the 0th highest net out-flow for the day. Caterpillar traded up $0.37 for the day and closed at $80.06
CAT has been the subject of a number of analyst reports. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Caterpillar in a research report on Thursday, March 31st. OTR Global raised Caterpillar from a “mixed” rating to a “positive” rating in a research report on Thursday, March 24th. Credit Suisse Group AG raised their price objective on Caterpillar from $72.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, April 4th. Jefferies Group reaffirmed a “hold” rating and set a $69.00 price objective (up previously from $63.00) on shares of Caterpillar in a research report on Friday, March 18th. Finally, Vertical Research raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, April 15th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $70.16.
The company has a 50 day moving average price of $75.53 and a 200-day moving average price of $71.42. The stock has a market cap of $46.74 billion and a P/E ratio of 42.11.
Caterpillar (NYSE:CAT) last posted its earnings results on Friday, April 22nd. The company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.59 billion. During the same period in the previous year, the business earned $1.72 EPS. The business’s revenue was down 25.5% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post $3.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, August 20th. Investors of record on Wednesday, July 20th will be issued a $0.77 dividend. The ex-dividend date is Monday, July 18th. This represents a $3.08 annualized dividend and a yield of 3.85%.
In other Caterpillar news, CFO Bradley M. Halverson sold 574 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $72.58, for a total value of $41,660.92. Following the completion of the transaction, the chief financial officer now owns 10,783 shares in the company, valued at $782,630.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bradley M. Halverson sold 878 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $76.85, for a total transaction of $67,474.30. Following the completion of the transaction, the chief financial officer now owns 12,051 shares of the company’s stock, valued at approximately $926,119.35. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of CAT. Dimensional Fund Advisors LP increased its position in Caterpillar by 61.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,543,333 shares of the company’s stock valued at $240,813,000 after buying an additional 1,346,344 shares during the period. Harris Associates L P increased its position in Caterpillar by 5.6% in the fourth quarter. Harris Associates L P now owns 17,099,572 shares of the company’s stock valued at $1,162,087,000 after buying an additional 907,268 shares during the period. RidgeWorth Capital Management LLC increased its position in Caterpillar by 53,430.5% in the fourth quarter. RidgeWorth Capital Management LLC now owns 702,856 shares of the company’s stock valued at $47,766,000 after buying an additional 701,543 shares during the period. Alps Advisors Inc. acquired a new position in Caterpillar during the fourth quarter valued at approximately $20,269,000. Finally, RiverFront Investment Group LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $15,968,000.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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