Traders Sell Caterpillar Inc. (CAT) on Strength (CAT)
Investors 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 stocks 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 several recent analyst reports. Goldman Sachs Group Inc. increased their price objective on shares of Caterpillar from $55.00 to $62.00 in a report on Monday, March 28th. Credit Suisse Group AG reiterated a “buy” rating on shares of Caterpillar in a report on Sunday, March 27th. Vertical Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, April 15th. Vertical Group upgraded shares of Caterpillar to a “buy” rating in a report on Friday, April 15th. Finally, Vetr upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $81.54 price objective for the company in a report on Monday, April 25th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $70.16.
The firm has a market cap of $47.12 billion and a P/E ratio of 42.45. The company has a 50-day moving average of $75.78 and a 200 day moving average of $71.51.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Friday, April 22nd. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by $0.01. During the same period last year, the company posted $1.72 EPS. The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.59 billion. Caterpillar’s revenue for the quarter was down 25.5% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post $3.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, August 20th. Stockholders of record on Wednesday, July 20th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, July 18th.
In other Caterpillar news, Director David L. Calhoun purchased 25,000 shares of the stock in a transaction dated Tuesday, April 26th. The stock was bought at an average price of $77.44 per share, for a total transaction of $1,936,000.00. Following the transaction, the director now directly owns 33,129 shares in the company, valued at $2,565,509.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bradley M. Halverson sold 878 shares of Caterpillar stock in a transaction that occurred 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 sale, 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 large investors have modified their holdings of the company. Howland Capital Management LLC boosted its stake in shares of Caterpillar by 0.3% in the fourth quarter. Howland Capital Management LLC now owns 31,311 shares of the company’s stock valued at $2,128,000 after buying an additional 100 shares in the last quarter. Columbia Asset Management boosted its position in shares of Caterpillar by 0.4% in the fourth quarter. Columbia Asset Management now owns 38,204 shares of the company’s stock worth $2,596,000 after buying an additional 134 shares in the last quarter. Garcia Hamilton & Associates LP DE boosted its position in shares of Caterpillar by 0.6% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 25,183 shares of the company’s stock worth $1,711,000 after buying an additional 138 shares in the last quarter. Boltwood Capital Management boosted its position in shares of Caterpillar by 0.8% in the fourth quarter. Boltwood Capital Management now owns 21,134 shares of the company’s stock worth $1,429,000 after buying an additional 175 shares in the last quarter. Finally, Navellier & Associates Inc boosted its position in shares of Caterpillar by 1.2% in the fourth quarter. Navellier & Associates Inc now owns 17,400 shares of the company’s stock worth $1,183,000 after buying an additional 200 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.