Caterpillar Inc. (NYSE:CAT) Short Interest Update

Caterpillar Inc. (NYSE:CAT) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 13,060,000 shares, a decline of 9.6% from the March 15th total of 14,440,000 shares. Based on an average daily volume of 2,430,000 shares, the short-interest ratio is presently 5.4 days. Currently, 2.6% of the shares of the stock are sold short.

Caterpillar Stock Performance

NYSE CAT traded up $4.33 during trading on Monday, hitting $369.96. The company’s stock had a trading volume of 340,461 shares, compared to its average volume of 2,409,714. Caterpillar has a 52 week low of $204.04 and a 52 week high of $382.01. The firm has a market cap of $184.76 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The firm has a 50 day moving average price of $342.95 and a 200 day moving average price of $295.12. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25.

Caterpillar (NYSE:CAT) last announced its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. During the same quarter in the previous year, the firm posted $3.86 earnings per share. Caterpillar’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Caterpillar will post 21.33 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CAT shares. Morgan Stanley started coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target on the stock. Citigroup raised their price target on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Sanford C. Bernstein increased their target price on shares of Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a research report on Thursday, December 21st. TD Cowen upped their price target on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $301.94.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the transaction, the chief financial officer now directly owns 67,317 shares in the company, valued at approximately $20,197,792.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan bought 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold a total of 45,769 shares of company stock valued at $14,509,306 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Hedge funds have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC boosted its holdings in Caterpillar by 130,632.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after purchasing an additional 9,776,533 shares in the last quarter. Norges Bank bought a new stake in Caterpillar in the fourth quarter valued at $1,660,560,000. Ontario Teachers Pension Plan Board acquired a new position in Caterpillar during the first quarter worth $433,134,000. Imprint Wealth LLC lifted its holdings in shares of Caterpillar by 24,982.9% during the second quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock valued at $153,808,000 after acquiring an additional 1,531,952 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Caterpillar by 28,603.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after purchasing an additional 1,488,813 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.