Caterpillar (NYSE:CAT) Stock Price Down 0.8% - Here's Why

Caterpillar Inc. (NYSE:CAT - Get Free Report) dropped 0.8% on Tuesday . The company traded as low as $385.55 and last traded at $387.30. Approximately 485,207 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,614,930 shares. The stock had previously closed at $390.61.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, October 14th. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, September 24th. Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research report on Monday, September 30th. UBS Group boosted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a "sell" rating in a research report on Wednesday, August 7th. Finally, Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $355.50.

Caterpillar Stock Down 0.7 %

The business has a 50-day moving average price of $369.49 and a 200-day moving average price of $350.79. The company has a market capitalization of $189.64 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the company posted $5.55 earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. Caterpillar's dividend payout ratio (DPR) is currently 25.46%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the company'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 transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were acquired 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 of the company's stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAT. Claro Advisors LLC raised its stake in shares of Caterpillar by 23.9% in the first quarter. Claro Advisors LLC now owns 1,616 shares of the industrial products company's stock valued at $592,000 after purchasing an additional 312 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of Caterpillar in the first quarter valued at $246,000. Exchange Capital Management Inc. raised its stake in shares of Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company's stock valued at $372,000 after purchasing an additional 32 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of Caterpillar by 17.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 876 shares of the industrial products company's stock valued at $321,000 after purchasing an additional 128 shares in the last quarter. Finally, Tower Wealth Partners Inc. grew its position in Caterpillar by 13.1% in the first quarter. Tower Wealth Partners Inc. now owns 1,043 shares of the industrial products company's stock valued at $382,000 after acquiring an additional 121 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Company Profile

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.