Investors Buy Shares of Caterpillar (CAT) on Weakness

Traders bought 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 equities 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

Several equities analysts have recently weighed in on the company. Vetr upgraded Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective for the company in a report on Thursday, August 10th. UBS set a $155.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research note on Tuesday. ValuEngine downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Wells Fargo & Company set a $150.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. Caterpillar has an average rating of “Hold” and a consensus price target of $136.28.

The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. The firm has a market cap of $84,183.11, a PE ratio of 25.50, a PEG ratio of 2.14 and a beta of 1.29.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. analysts anticipate that Caterpillar, Inc. will post 6.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.23%. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.

In other news, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the sale, the director now directly owns 6,554 shares in the company, valued at $898,487.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Insiders have sold 52,989 shares of company stock valued at $7,235,850 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Vanguard Group Inc. raised its position in shares of Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. FMR LLC increased its stake in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after acquiring an additional 2,052,300 shares during the last quarter. Renaissance Technologies LLC bought a new position in Caterpillar in the first quarter valued at approximately $143,490,000. Jennison Associates LLC increased its stake in Caterpillar by 140.9% in the third quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock valued at $327,653,000 after acquiring an additional 1,536,470 shares during the last quarter. Finally, Morgan Stanley increased its stake in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after acquiring an additional 1,365,856 shares during the last quarter. Institutional investors own 68.61% of the company’s stock.

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