Investors Buy Shares of Caterpillar, Inc. (NYSE:CAT) on Weakness on Insider Selling

Investors purchased shares of Caterpillar, Inc. (NYSE:CAT) on weakness during trading hours on Tuesday following insider selling activity. $108.34 million flowed into the stock on the tick-up and $74.15 million flowed out of the stock on the tick-down, for a money net flow of $34.19 million into the stock. Of all equities tracked, Caterpillar had the 15th highest net in-flow for the day. Caterpillar traded down ($0.85) for the day and closed at $113.10Specifically, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.

CAT has been the topic of a number of analyst reports. Bank of America Corporation upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $120.00 in a research report on Thursday, May 11th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 target price on the stock in a research report on Thursday, April 27th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research report on Friday, May 5th. Deutsche Bank AG cut shares of Caterpillar from a “buy” rating to a “hold” rating and decreased their price objective for the company from $121.00 to $106.00 in a research report on Friday, June 23rd. Finally, Credit Suisse Group restated an “outperform” rating and issued a $133.00 price objective (up previously from $123.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $107.15.

The company has a market capitalization of $67.32 billion, a PE ratio of 636.42 and a beta of 1.25. The firm’s 50-day moving average is $111.03 and its 200-day moving average is $101.77.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Equities analysts anticipate that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is presently 2,080.00%.

Large investors have recently modified their holdings of the company. Howe & Rusling Inc. raised its stake in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares during the last quarter. Baker Ellis Asset Management LLC bought a new stake in shares of Caterpillar during the second quarter valued at approximately $104,000. Motco raised its stake in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $107,000. 70.27% of the stock is owned by institutional investors.

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