Caterpillar Inc. (CAT) Shares Down 1.5%
Caterpillar Inc. (NYSE:CAT) was down 1.5% during trading on Monday . The stock traded as low as $78.87 and last traded at $79.51, with a volume of 2,171,009 shares trading hands. The stock had previously closed at $80.70.
Several equities research analysts have recently commented on CAT shares. Goldman Sachs Group Inc. upped their target price on Caterpillar from $55.00 to $62.00 in a report on Monday, March 28th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Caterpillar in a report on Sunday, March 27th. Vertical Research raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, April 15th. Vertical Group raised Caterpillar to a “buy” rating in a report on Friday, April 15th. Finally, Vetr raised Caterpillar from a “hold” rating to a “buy” rating and set a $81.54 target price for the company in a report on Monday, April 25th. 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. The stock has a consensus rating of “Hold” and an average target price of $70.16.
The stock has a market capitalization of $46.60 billion and a P/E ratio of 41.99. The company has a 50 day moving average price of $75.90 and a 200 day moving average price of $71.57.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Friday, April 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The business earned $9.46 billion during the quarter, compared to analysts’ expectations of $9.59 billion. During the same quarter last year, the company earned $1.72 earnings per share. Caterpillar’s revenue for the quarter was down 25.5% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post $3.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, August 20th. Shareholders of record on Wednesday, July 20th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, July 18th.
In other Caterpillar news, CFO Bradley M. Halverson sold 878 shares of Caterpillar stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $76.85, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis A. Muilenburg purchased 1,128 shares of the company’s stock in a transaction on Monday, May 9th. The stock was purchased at an average cost of $71.01 per share, for a total transaction of $80,099.28. Following the purchase, the director now directly owns 7,628 shares in the company, valued at $541,664.28. The disclosure for this purchase can be found here.
Several hedge funds recently added to or reduced their stakes in CAT. Howland Capital Management LLC increased its stake in Caterpillar by 0.3% in the fourth quarter. Howland Capital Management LLC now owns 31,311 shares of the company’s stock worth $2,128,000 after buying an additional 100 shares in the last quarter. Columbia Asset Management increased its stake in 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 increased its stake in 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 increased its stake in 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 increased its stake in 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.
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