Caterpillar Inc. (CAT) Sets New 12-Month High at $84.36
Caterpillar Inc. (NYSE:CAT)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $84.36 and last traded at $84.29, with a volume of 3,136,200 shares changing hands. The stock had previously closed at $84.15.
Several equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on Caterpillar from $68.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, April 25th. Citigroup Inc. boosted their price objective on Caterpillar from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Jefferies Group restated a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated a “buy” rating on shares of Caterpillar in a research report on Sunday, April 24th. Finally, Vetr upgraded Caterpillar from a “buy” rating to a “strong-buy” rating and set a $82.92 price objective on the stock in a research report on Thursday, May 5th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $70.83.
The company’s 50 day moving average is $80.05 and its 200 day moving average is $74.59. The firm has a market capitalization of $49.24 billion and a PE ratio of 56.19.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. During the same quarter in the prior year, the business earned $1.27 earnings per share. The firm earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post $3.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 20th. Investors of record on Wednesday, July 20th will be given a $0.77 dividend. The ex-dividend date of this dividend is Monday, July 18th. This represents a $3.08 annualized dividend and a yield of 3.65%.
In related news, Director Dennis A. Muilenburg purchased 1,930 shares of the company’s stock in a transaction on Friday, July 29th. The shares were bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the transaction, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bradley M. Halverson sold 574 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $72.58, for a total transaction of $41,660.92. Following the sale, the chief financial officer now owns 10,783 shares in the company, valued at $782,630.14. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in CAT. PVG Asset Management bought a new stake in Caterpillar during the fourth quarter worth approximately $4,929,000. American International Group Inc. boosted its position in shares of Caterpillar by 1,064.9% in the fourth quarter. American International Group Inc. now owns 5,112,977 shares of the company’s stock valued at $347,478,000 after buying an additional 4,674,053 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Caterpillar by 42.3% in the fourth quarter. BlackRock Advisors LLC now owns 707,738 shares of the company’s stock valued at $48,098,000 after buying an additional 210,476 shares in the last quarter. Marco Investment Management LLC boosted its position in shares of Caterpillar by 17.3% in the fourth quarter. Marco Investment Management LLC now owns 79,220 shares of the company’s stock valued at $5,384,000 after buying an additional 11,657 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 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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