Investors Buy Caterpillar Inc. (CAT) on Weakness
Traders bought shares of Caterpillar Inc. (NYSE:CAT) on weakness during trading hours on Monday. $61.87 million flowed into the stock on the tick-up and $43.73 million flowed out of the stock on the tick-down, for a money net flow of $18.14 million into the stock. Of all equities tracked, Caterpillar had the 13th highest net in-flow for the day. Caterpillar traded down ($0.25) for the day and closed at $83.59
Several analysts have recently weighed in on CAT shares. Vetr lowered Caterpillar from a “strong-buy” rating to a “buy” rating and set a $80.77 price objective on the stock. in a report on Tuesday, May 31st. Argus raised Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, April 26th. Credit Suisse Group AG reissued a “buy” rating on shares of Caterpillar in a report on Sunday, April 24th. TheStreet raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Finally, Jefferies Group reissued a “hold” rating and set a $69.00 price objective on shares of Caterpillar in a report on Friday, May 20th. Four 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 stock has a consensus rating of “Hold” and a consensus target price of $70.83.
The firm has a market capitalization of $48.84 billion and a PE ratio of 55.73. The stock’s 50-day moving average price is $81.08 and its 200-day moving average price is $75.19.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. During the same quarter in the previous year, the business earned $1.27 earnings per share. The firm had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post $3.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, August 20th. Stockholders of record on Wednesday, July 20th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, July 18th. This represents a $3.08 annualized dividend and a dividend yield of 3.68%.
In related news, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the transaction, the insider now directly owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bradley M. Halverson sold 574 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $72.58, for a total transaction of $41,660.92. Following the transaction, the chief financial officer now directly owns 10,783 shares of the company’s stock, valued at $782,630.14. The disclosure for this sale can be found here.
A number of institutional investors recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in Caterpillar by 54.2% in the fourth quarter. Victory Capital Management Inc. now owns 34,894 shares of the company’s stock valued at $2,372,000 after buying an additional 12,268 shares during the last quarter. Marco Investment Management LLC boosted its position in 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 during the last quarter. I.G. Investment Management LTD. boosted its position in Caterpillar by 3.3% in the fourth quarter. I.G. Investment Management LTD. now owns 80,850 shares of the company’s stock valued at $5,495,000 after buying an additional 2,600 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Caterpillar during the fourth quarter valued at $6,796,000. Finally, Schroder Investment Management Group boosted its position in Caterpillar by 37.5% in the fourth quarter. Schroder Investment Management Group now owns 324,061 shares of the company’s stock valued at $22,023,000 after buying an additional 88,459 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.
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.