Caterpillar (CAT) Shares Down 0%
Caterpillar Inc. (NYSE:CAT) shares dropped 0% during trading on Thursday . The company traded as low as $145.92 and last traded at $145.99. Approximately 9,090,000 shares traded hands during trading, an increase of 43% from the average daily volume of 6,350,000 shares. The stock had previously closed at $145.99.
CAT has been the topic of a number of analyst reports. Bank of America set a $152.00 price objective on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 25th. Wells Fargo & Co set a $150.00 price objective on Caterpillar and gave the company a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Wednesday, October 11th. UBS Group set a $155.00 price objective on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, BMO Capital Markets reissued a “buy” rating and set a $150.00 price objective on shares of Caterpillar in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $167.80.
The company has a market cap of $86,850.00, a P/E ratio of 115.87, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.14%. Caterpillar’s dividend payout ratio is currently 247.62%.
In other Caterpillar news, insider Thomas A. Pellette sold 95,199 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the completion of the sale, the insider now owns 96,268 shares in the company, valued at approximately $15,700,348.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total value of $84,722.88. Following the completion of the sale, the general counsel now owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. Insiders sold a total of 143,331 shares of company stock valued at $22,107,578 in the last quarter. Corporate insiders own 0.14% of the company’s stock.
Several hedge funds have recently made changes to their positions in CAT. Beach Investment Management LLC. bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $231,000. Sullivan Bruyette Speros & Blaney LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $210,000. Principal Financial Group Inc. lifted its position in shares of Caterpillar by 5.2% during the 2nd quarter. Principal Financial Group Inc. now owns 871,852 shares of the industrial products company’s stock worth $93,689,000 after buying an additional 43,294 shares during the period. Atwood & Palmer Inc. lifted its position in shares of Caterpillar by 1.5% during the 2nd quarter. Atwood & Palmer Inc. now owns 2,740 shares of the industrial products company’s stock worth $294,000 after buying an additional 40 shares during the period. Finally, ARGI Investment Services LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $218,000. Institutional investors own 69.25% of the company’s stock.
Caterpillar Company Profile
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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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