Traders sold shares of Caterpillar, Inc. (NYSE:CAT) on strength during trading hours on Wednesday. $67.48 million flowed into the stock on the tick-up and $140.54 million flowed out of the stock on the tick-down, for a money net flow of $73.06 million out of the stock. Of all stocks tracked, Caterpillar had the 0th highest net out-flow for the day. Caterpillar traded up $0.20 for the day and closed at $140.34
A number of equities research analysts have recently commented on the company. BMO Capital Markets raised their target price on Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, September 14th. Vetr upgraded Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 target price on the stock in a research report on Thursday, October 19th. Zacks Investment Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Argus raised their target price on Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Jefferies Group restated a “hold” rating and set a $100.00 target price on shares of Caterpillar in a research report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $136.41.
The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. The company has a market capitalization of $83,492.98, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. analysts forecast that Caterpillar, Inc. will post 6.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 23rd were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s payout ratio is presently 216.67%.
In other news, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the sale, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas A. Pellette sold 24,547 shares of Caterpillar stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total transaction of $3,330,782.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,989 shares of company stock worth $7,235,850. Corporate insiders own 0.14% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $104,000. Motco increased its holdings in Caterpillar by 264.9% in the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Caterpillar by 900.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Caterpillar in the 1st quarter valued at approximately $107,000. Finally, Chicago Partners Investment Group LLC increased its holdings in Caterpillar by 75.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 496 shares during the last quarter. 68.61% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This article was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://ledgergazette.com/2017/12/08/traders-sell-shares-of-caterpillar-cat-on-strength-cat.html.
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 MarketBeat.com's FREE daily email newsletter.