Caterpillar (CAT) Hits New 1-Year High at $155.75

Caterpillar Inc. (NYSE:CAT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $155.75 and last traded at $155.75, with a volume of 2486300 shares. The stock had previously closed at $154.64.

Several brokerages have recently issued reports on CAT. Tigress Financial reiterated a “buy” rating on shares of Caterpillar in a research report on Monday, September 18th. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 target price on the stock in a research note on Thursday, October 19th. Barclays started coverage on shares of Caterpillar in a research note on Tuesday, December 12th. They set an “overweight” rating and a $162.00 target price on the stock. Deutsche Bank set a $149.00 price target on shares of Caterpillar and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, UBS Group upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $140.00 in a report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $139.93.

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 cap of $92,660.00, a P/E ratio of 108.16, a P/E/G ratio of 2.32 and a beta of 1.29.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. The firm had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. equities research analysts expect that Caterpillar Inc. will post 6.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.00%. Caterpillar’s dividend payout ratio is currently 216.67%.

In other news, insider Bradley M. Halverson sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $137.67, for a total value of $357,942.00. Following the completion of the sale, the insider now directly owns 5,214 shares in the company, valued at $717,811.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction that occurred on 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 owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Beach Investment Management LLC. acquired a new stake in Caterpillar during the 2nd quarter worth approximately $231,000. NGAM Advisors L.P. lifted its holdings in shares of Caterpillar by 2.9% in the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock valued at $8,742,000 after buying an additional 2,286 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Caterpillar by 527.0% in the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after buying an additional 164,989 shares during the period. Wealthsource Partners LLC purchased a new position in Caterpillar in the 2nd quarter valued at approximately $316,000. Finally, Point72 Asset Management L.P. purchased a new position in Caterpillar during the first quarter worth $46,917,000. 68.53% of the stock is currently owned by institutional investors.

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