Caterpillar (NYSE:CAT - Get Free Report) announced its quarterly earnings data on Wednesday. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16), Briefing.com reports. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.11 billion during the quarter, compared to analysts' expectations of $16.37 billion. During the same quarter in the previous year, the firm earned $5.52 earnings per share. Caterpillar's revenue was down 4.2% on a year-over-year basis.
Caterpillar Price Performance
Caterpillar stock traded down $3.04 during mid-day trading on Thursday, hitting $376.20. The stock had a trading volume of 2,370,657 shares, compared to its average volume of 2,628,922. The firm has a market capitalization of $182.42 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm's 50 day moving average is $371.10 and its 200 day moving average is $351.14. Caterpillar has a one year low of $223.76 and a one year high of $403.60.
Caterpillar Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio is currently 25.68%.
Insider Buying and Selling
In related news, Director Gerald Johnson acquired 100 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Gerald Johnson acquired 100 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company's stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CAT. Evercore ISI decreased their target price on shares of Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. UBS Group boosted their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a "sell" rating in a research note on Wednesday, August 7th. Morgan Stanley lowered shares of Caterpillar from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Citigroup decreased their target price on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of "Hold" and a consensus target price of $357.56.
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About Caterpillar
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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.
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