Caterpillar Inc. (NYSE:CAT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $83.39, but opened at $83.59. Caterpillar shares last traded at $84.18, with a volume of 1,656,068 shares traded.

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Caterpillar from $68.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, April 25th. Citigroup Inc. lifted their price objective on shares of Caterpillar from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Jefferies Group reaffirmed a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of Caterpillar in a research note on Friday, May 20th. Finally, Vetr raised shares of Caterpillar from a “buy” rating to a “strong-buy” rating and set a $82.92 price objective on the stock in a research note on Thursday, May 5th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.15.

The stock has a 50-day moving average price of $81.16 and a 200 day moving average price of $75.32. The company has a market cap of $49.08 billion and a price-to-earnings ratio of 56.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.13. The business had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the prior year, the business earned $1.27 earnings per share. Caterpillar’s revenue was down 16.0% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar Inc. will post $3.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, August 20th. Stockholders of record on Wednesday, July 20th were paid 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 3.67%.

In other news, CFO Bradley M. Halverson sold 574 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $72.58, for a total value of $41,660.92. Following the completion of the sale, the chief financial officer now owns 10,783 shares of the company’s stock, valued at approximately $782,630.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dennis A. Muilenburg acquired 1,930 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was bought at an average cost of $82.75 per share, with a total value of $159,707.50. Following the acquisition, the director now owns 9,558 shares in the company, valued at approximately $790,924.50. The disclosure for this purchase can be found here.

Several large investors recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake 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 increased its stake 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. 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 valued at $148,974,000 after buying an additional 110,225 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 valued at $240,813,000 after buying an additional 1,346,344 shares during the last quarter. Finally, 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 valued at $48,098,000 after buying an additional 210,476 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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