Investors Sell Shares of Caterpillar Inc. (CAT) on Strength (CAT)
Traders sold shares of Caterpillar Inc. (NYSE:CAT) on strength during trading hours on Wednesday. $129.40 million flowed into the stock on the tick-up and $157.49 million flowed out of the stock on the tick-down, for a money net flow of $28.09 million out of the stock. Of all companies tracked, Caterpillar had the 0th highest net out-flow for the day. Caterpillar traded up $1.35 for the day and closed at $84.10
Several equities analysts have recently commented on CAT shares. RBC Capital Markets set a $73.00 price target on shares of Caterpillar and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research cut shares of Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Vertical Group raised shares of Caterpillar to a “buy” rating in a research report on Friday, April 15th. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Caterpillar in a research report on Thursday, March 31st. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Tuesday, April 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $70.69.
The firm has a market cap of $49.12 billion and a PE ratio of 56.07. The stock has a 50-day moving average of $77.21 and a 200-day moving average of $72.30.
Caterpillar (NYSE:CAT) last issued its earnings results 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. The firm earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the company posted $1.27 EPS. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post $3.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, August 20th. Shareholders of record on Wednesday, July 20th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Monday, July 18th.
In other news, Director Dennis A. Muilenburg bought 1,128 shares of the stock in a transaction on Monday, May 9th. The stock was purchased at an average price of $71.01 per share, with a total value of $80,099.28. Following the completion of the purchase, the director now owns 7,628 shares of the company’s stock, valued at $541,664.28. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Bradley M. Halverson sold 878 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $76.85, for a total transaction of $67,474.30. Following the completion of the sale, the chief financial officer now directly owns 12,051 shares of the company’s stock, valued at approximately $926,119.35. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Navellier & Associates Inc increased its stake in shares of Caterpillar by 1.2% in the fourth quarter. Navellier & Associates Inc now owns 17,400 shares of the company’s stock valued at $1,183,000 after buying an additional 200 shares during the last quarter. RBO & Co. LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at about $1,359,000. Hamilton Point Investment Advisors LLC increased its stake in shares of Caterpillar by 17.0% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 20,561 shares of the company’s stock valued at $1,397,000 after buying an additional 2,991 shares in the last quarter. Boltwood Capital Management increased its stake in shares of Caterpillar by 0.8% in the fourth quarter. Boltwood Capital Management now owns 21,134 shares of the company’s stock valued at $1,429,000 after buying an additional 175 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Caterpillar by 1.2% in the fourth quarter. Moors & Cabot Inc. now owns 22,115 shares of the company’s stock valued at $1,507,000 after buying an additional 269 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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