Investors Buy Shares of Caterpillar (CAT) on Weakness
Traders bought shares of Caterpillar Inc. (NYSE:CAT) on weakness during trading hours on Thursday. $228.74 million flowed into the stock on the tick-up and $198.16 million flowed out of the stock on the tick-down, for a money net flow of $30.58 million into the stock. Of all companies tracked, Caterpillar had the 32nd highest net in-flow for the day. Caterpillar traded down ($3.71) for the day and closed at $131.39
CAT has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Caterpillar from $174.00 to $168.00 and set a “hold” rating on the stock in a report on Tuesday, August 7th. Credit Suisse Group dropped their price objective on Caterpillar from $210.00 to $183.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. UBS Group set a $185.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 5th. Wells Fargo & Co set a $145.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, Robert W. Baird set a $171.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Caterpillar presently has a consensus rating of “Buy” and an average target price of $158.55.
The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. The firm has a market cap of $79.72 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.74 and a beta of 1.58.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be given a $0.86 dividend. The ex-dividend date is Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.71%. Caterpillar’s dividend payout ratio is currently 50.00%.
In related news, insider Lange Bob De acquired 1,080 shares of Caterpillar stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the transaction, the insider now directly owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of CAT. Acropolis Investment Management LLC purchased a new position in Caterpillar during the third quarter worth about $100,000. Sound Income Strategies LLC lifted its position in Caterpillar by 181.8% during the third quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock worth $101,000 after buying an additional 429 shares during the period. St. Johns Investment Management Company LLC purchased a new position in Caterpillar during the third quarter worth about $106,000. Providence Capital Advisors LLC purchased a new position in Caterpillar during the third quarter worth about $118,000. Finally, Psagot Investment House Ltd. purchased a new position in Caterpillar during the third quarter worth about $136,000. Institutional investors and hedge funds own 66.56% of the company’s stock.
Caterpillar Company Profile (NYSE:CAT)
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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