Traders Sell Shares of Caterpillar, Inc. (CAT) on Strength After Insider Selling
Investors sold shares of Caterpillar, Inc. (NYSE:CAT) on strength during trading on Wednesday after an insider sold shares in the company. $88.92 million flowed into the stock on the tick-up and $185.10 million flowed out of the stock on the tick-down, for a money net flow of $96.18 million out of the stock. Of all companies tracked, Caterpillar had the highest net out-flow for the day. Caterpillar traded up $0.41 for the day and closed at $138.01Specifically, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the sale, the director now directly owns 6,554 shares in the company, valued at approximately $898,487.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas A. Pellette sold 24,547 shares of Caterpillar stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Insiders have sold a total of 29,932 shares of company stock worth $4,069,782 over the last 90 days. Insiders own 0.14% of the company’s stock.
Several research firms recently issued reports on CAT. Vetr upgraded Caterpillar from a “sell” rating to a “hold” rating and set a $135.41 price objective on the stock in a report on Monday, November 13th. Tigress Financial reiterated a “buy” rating on shares of Caterpillar in a report on Monday, October 30th. BMO Capital Markets lifted their price objective on Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Argus lifted their price objective on Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Citigroup Inc. lifted their price objective on Caterpillar from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $133.92.
The company has a market capitalization of $82,110.00, a PE ratio of 24.67, a PEG ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The company had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. research analysts forecast that Caterpillar, Inc. will post 6.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.26%. Caterpillar’s dividend payout ratio (DPR) is 216.67%.
Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after acquiring an additional 2,377,623 shares in the last quarter. FMR LLC grew its stake in shares of Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after acquiring an additional 2,052,300 shares in the last quarter. Morgan Stanley grew its stake in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after acquiring an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after acquiring an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after acquiring an additional 419,191 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.
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Caterpillar Company Profile
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