Caterpillar Inc. (NYSE:CAT - Get Free Report)'s stock price was down 1.2% during mid-day trading on Tuesday . The stock traded as low as $385.73 and last traded at $385.89. Approximately 384,585 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,631,286 shares. The stock had previously closed at $390.48.
Analyst Upgrades and Downgrades
CAT has been the subject of a number of recent research reports. Evercore ISI cut their target price on Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a report on Monday, September 30th. StockNews.com lowered Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Truist Financial lifted their target price on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on Caterpillar from $435.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $355.50.
Check Out Our Latest Research Report on CAT
Caterpillar Stock Performance
The stock has a 50-day moving average price of $365.94 and a 200 day moving average price of $350.37. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $189.99 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.85 and a beta of 1.10.
Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts' consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.55 EPS. On average, analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current year.
Caterpillar Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.45%. Caterpillar's payout ratio is currently 25.46%.
Insider Buying and Selling
In related news, Director Gerald Johnson purchased 100 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Gerald Johnson acquired 100 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Institutional Investors Weigh In On Caterpillar
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Smallwood Wealth Investment Management LLC raised its stake in shares of Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company's stock worth $405,000 after purchasing an additional 26 shares during the last quarter. Pacifica Partners Inc. increased its holdings in shares of Caterpillar by 1.6% in the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company's stock valued at $707,000 after purchasing an additional 28 shares in the last quarter. Souders Financial Advisors boosted its holdings in Caterpillar by 0.8% during the second quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company's stock worth $1,218,000 after buying an additional 29 shares in the last quarter. Davis Investment Partners LLC grew its position in Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company's stock worth $541,000 after buying an additional 30 shares during the period. Finally, Hilltop National Bank lifted its position in shares of Caterpillar by 1.2% during the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company's stock valued at $878,000 after acquiring an additional 31 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
(
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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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