Traders Buy Shares of Caterpillar Inc. (CAT) on Weakness
Traders bought shares of Caterpillar Inc. (NYSE:CAT) on weakness during trading hours on Friday. $78.53 million flowed into the stock on the tick-up and $52.98 million flowed out of the stock on the tick-down, for a money net flow of $25.55 million into the stock. Of all stocks tracked, Caterpillar had the 15th highest net in-flow for the day. Caterpillar traded down ($0.63) for the day and closed at $79.38
A number of equities analysts have weighed in on the company. Credit Suisse Group AG reissued a “buy” rating on shares of Caterpillar in a research report on Sunday, April 24th. Vetr lowered Caterpillar from a “strong-buy” rating to a “buy” rating and set a $80.77 target price for the company. in a research report on Tuesday, May 31st. Citigroup Inc. reissued a “neutral” rating and issued a $75.00 target price on shares of Caterpillar in a research report on Tuesday, May 31st. Vertical Group raised Caterpillar to a “buy” rating in a research report on Friday, April 15th. Finally, Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research report on Monday, May 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $70.16.
The stock has a 50 day moving average of $76.71 and a 200 day moving average of $71.89. The stock has a market cap of $46.35 billion and a price-to-earnings ratio of 41.76.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Friday, April 22nd. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by $0.01. The company earned $9.46 billion during the quarter, compared to the consensus estimate of $9.59 billion. The company’s quarterly revenue was down 25.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 EPS. Equities analysts predict that Caterpillar Inc. will post $3.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, August 20th. Investors 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 yield of 3.88%. The ex-dividend date is Monday, July 18th.
In related news, Director David L. Calhoun purchased 25,000 shares of Caterpillar stock in a transaction that occurred on Tuesday, April 26th. The stock was bought at an average cost of $77.44 per share, for a total transaction of $1,936,000.00. Following the completion of the transaction, the director now owns 33,129 shares in the company, valued at $2,565,509.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bradley M. Halverson sold 878 shares of Caterpillar stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $76.85, for a total value of $67,474.30. Following the transaction, the chief financial officer now owns 12,051 shares of the company’s stock, valued at $926,119.35. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in CAT. OppenheimerFunds Inc. boosted its position in shares of Caterpillar by 0.7% in the fourth quarter. OppenheimerFunds Inc. now owns 298,370 shares of the company’s stock valued at $20,308,000 after buying an additional 2,174 shares in the last quarter. GFS Advisors LLC boosted its position in shares of Caterpillar by 13.4% in the fourth quarter. GFS Advisors LLC now owns 57,680 shares of the company’s stock valued at $3,920,000 after buying an additional 6,800 shares in the last quarter. Usca Ria LLC boosted its position in shares of Caterpillar by 3.7% in the fourth quarter. Usca Ria LLC now owns 22,155 shares of the company’s stock valued at $1,506,000 after buying an additional 798 shares in the last quarter. AMG National Trust Bank boosted its position in shares of Caterpillar by 1.0% in the fourth quarter. AMG National Trust Bank now owns 24,492 shares of the company’s stock valued at $1,664,000 after buying an additional 253 shares in the last quarter. Finally, Winton Capital Group Ltd boosted its position in shares of Caterpillar by 230.6% in the fourth quarter. Winton Capital Group Ltd now owns 57,112 shares of the company’s stock valued at $3,881,000 after buying an additional 39,839 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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