Traders Buy Caterpillar (CAT) on Weakness
Traders purchased shares of Caterpillar, Inc. (NYSE:CAT) on weakness during trading on Monday. $214.74 million flowed into the stock on the tick-up and $144.92 million flowed out of the stock on the tick-down, for a money net flow of $69.82 million into the stock. Of all stocks tracked, Caterpillar had the 17th highest net in-flow for the day. Caterpillar traded down ($0.02) for the day and closed at $141.50
A number of brokerages have issued reports on CAT. Vetr raised Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 target price for the company in a report on Thursday, August 10th. Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a report on Monday, September 18th. BidaskClub raised Caterpillar from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Deutsche Bank set a $149.00 target price on Caterpillar and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, UBS raised Caterpillar from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $140.00 in a report on Monday, September 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $133.92.
The stock has a market cap of $84,180.00, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 2.14 and a beta of 1.29. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.68. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. equities analysts predict that Caterpillar, Inc. will post 6.4 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 23rd were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.20%. Caterpillar’s payout ratio is 216.67%.
In other news, insider Lange Bob De sold 1,572 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Bradley M. Halverson sold 17,210 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. In the last three months, insiders sold 52,989 shares of company stock valued at $7,235,850. Insiders own 0.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Vanguard Group Inc. grew its stake in Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after purchasing an additional 2,377,623 shares during the period. FMR LLC grew its stake in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after purchasing an additional 2,052,300 shares during the period. Renaissance Technologies LLC acquired a new stake in Caterpillar during the first quarter worth approximately $143,490,000. Jennison Associates LLC grew its stake in Caterpillar by 140.9% during the third quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock worth $327,653,000 after purchasing an additional 1,536,470 shares during the period. Finally, Morgan Stanley grew its stake in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after purchasing an additional 1,365,856 shares during the period. 68.61% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://theolympiareport.com/2017/12/04/traders-buy-caterpillar-cat-on-weakness.html.
Caterpillar Company Profile
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.