Caterpillar Inc. (CAT) Trading Down 1.5%
Caterpillar Inc. (NYSE:CAT)’s share price traded down 1.5% during mid-day trading on Thursday . The stock traded as low as $82.51 and last traded at $83.14, with a volume of 2,970,938 shares trading hands. The stock had previously closed at $84.41.
Several equities analysts have issued reports on the stock. Credit Suisse Group AG restated a “buy” rating on shares of Caterpillar in a research note on Sunday, April 24th. Vetr downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating and set a $80.77 price objective for the company. in a research note on Tuesday, May 31st. Citigroup Inc. restated a “neutral” rating and issued a $75.00 price objective on shares of Caterpillar in a research note on Tuesday, May 31st. Royal Bank Of Canada upped their price objective on shares of Caterpillar from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. Finally, Jefferies Group upped their price objective on shares of Caterpillar from $69.00 to $72.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.83.
The firm has a 50-day moving average price of $80.88 and a 200-day moving average price of $74.87. The company has a market cap of $48.98 billion and a P/E ratio of 55.89.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.13. The company had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 earnings per share. On average, analysts expect that Caterpillar Inc. will post $3.52 EPS for the current year.
The firm 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 dividend on an annualized basis and a dividend yield of 3.67%.
In other Caterpillar news, Director Dennis A. Muilenburg bought 1,930 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were acquired at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the acquisition, the director now directly owns 9,558 shares of the company’s stock, valued at $790,924.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in the company. American International Group Inc. increased its stake in Caterpillar by 1,064.9% in the fourth quarter. American International Group Inc. now owns 5,112,977 shares of the company’s stock worth $347,478,000 after buying an additional 4,674,053 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Caterpillar by 61.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,543,333 shares of the company’s stock worth $240,813,000 after buying an additional 1,346,344 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Caterpillar by 5.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,192,070 shares of the company’s stock worth $148,974,000 after buying an additional 110,225 shares during the last quarter. BlackRock Advisors LLC increased its stake in Caterpillar by 42.3% in the fourth quarter. BlackRock Advisors LLC now owns 707,738 shares of the company’s stock worth $48,098,000 after buying an additional 210,476 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Caterpillar by 2.7% in the fourth quarter. Suntrust Banks Inc. now owns 447,391 shares of the company’s stock worth $30,402,000 after buying an additional 11,787 shares during 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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