Caterpillar Inc. (CAT) Shares Down 1.5%
Caterpillar Inc. (NYSE:CAT) shares dropped 1.5% on Thursday . The company 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.
A number of analysts recently commented on CAT shares. Citigroup Inc. set a $82.00 price target on shares of Caterpillar and gave the company a “hold” rating in a research note on Tuesday. Jefferies Group restated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. Morgan Stanley restated a “hold” rating and set a $67.00 price target on shares of Caterpillar in a research note on Thursday, July 28th. Goldman Sachs Group Inc. upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the company from $62.00 to $78.00 in a research note on Monday, April 25th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $87.00 price target on shares of Caterpillar in a research note on Wednesday, July 13th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $70.83.
The company has a 50 day moving average of $80.39 and a 200-day moving average of $74.66. The company has a market capitalization of $48.71 billion and a PE ratio of 55.59.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s quarterly revenue was down 16.0% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post $3.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, August 20th. Stockholders of record on Wednesday, July 20th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, July 18th.
In related news, CFO Bradley M. Halverson sold 574 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $72.58, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction 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 approximately $1,673,793.36. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. Navellier & Associates Inc boosted 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 in the last quarter. 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 worth $2,372,000 after buying an additional 12,268 shares during the period. Parsons Capital Management Inc. RI boosted its position in Caterpillar by 3.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 46,669 shares of the company’s stock worth $3,172,000 after buying an additional 1,565 shares during the period. PVG Asset Management purchased a new position in Caterpillar during the fourth quarter worth $4,929,000. Finally, Andra AP fonden boosted its position in Caterpillar by 13.5% in the fourth quarter. Andra AP fonden now owns 76,300 shares of the company’s stock worth $5,185,000 after buying an additional 9,100 shares during the period.
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.