Denise Johnson Sells 6,196 Shares of Caterpillar (NYSE:CAT) Stock

Caterpillar Inc. (NYSE:CAT) insider Denise Johnson sold 6,196 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $909.79, for a total transaction of $5,637,058.84. Following the completion of the sale, the insider directly owned 49,825 shares of the company’s stock, valued at $45,330,286.75. This represents a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Caterpillar Price Performance

Shares of NYSE CAT traded up $11.51 during midday trading on Thursday, reaching $913.81. The stock had a trading volume of 937,949 shares, compared to its average volume of 2,682,534. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. Caterpillar Inc. has a 12-month low of $336.24 and a 12-month high of $931.35. The stock has a 50-day moving average of $768.15 and a 200-day moving average of $675.78. The company has a market capitalization of $420.89 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 1.83 and a beta of 1.63.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $4.25 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 24.21 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, April 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, April 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. Caterpillar’s dividend payout ratio (DPR) is 30.06%.

Analysts Set New Price Targets

A number of brokerages recently commented on CAT. Evercore reaffirmed an “outperform” rating and issued a $1,103.00 price target on shares of Caterpillar in a report on Monday. Jefferies Financial Group increased their price objective on Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a report on Friday, May 1st. Barclays raised their price objective on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Wells Fargo & Company raised their price target on Caterpillar from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Daiwa Securities Group increased their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $923.14.

Institutional Trading of Caterpillar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Caterpillar by 3,949.8% during the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after purchasing an additional 5,098,964 shares during the period. Diamant Asset Management Inc. raised its stake in shares of Caterpillar by 68,427.2% during the 1st quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after buying an additional 3,136,020 shares during the last quarter. Capital International Investors acquired a new stake in Caterpillar during the fourth quarter worth about $1,225,317,000. Massachusetts Financial Services Co. MA raised its position in Caterpillar by 1,851.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock valued at $873,382,000 after acquiring an additional 1,736,631 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Caterpillar by 573.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after purchasing an additional 1,281,087 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Rothschild & Co Redburn raised its price target on Caterpillar to $950 from $700, signaling more room for the stock even though it kept a neutral rating. Rothschild & Co Redburn price target update
• Positive Sentiment: Analyst commentary continues to highlight strong demand for Caterpillar’s equipment and power-generation products, especially from AI data centers and infrastructure projects. Jim Cramer article on Caterpillar demand drivers
• Positive Sentiment: Caterpillar is adding 600 jobs at its Sanford, North Carolina plant to build compact track loaders, a sign of expanding production capacity and healthy end-market demand. Caterpillar adding 600 jobs article
• Positive Sentiment: Recent coverage of Caterpillar’s strong first-quarter results and upbeat guidance has kept investor sentiment constructive, reinforcing the stock’s rerating. Caterpillar Q1 results coverage

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.