Caterpillar Inc. (NYSE:CAT)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $125.14, but opened at $129.33. Caterpillar shares last traded at $135.10, with a volume of 7549147 shares.
CAT has been the topic of a number of recent analyst reports. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 price target on the stock in a research report on Thursday, September 20th. Citigroup raised Caterpillar to an “outperform” rating in a research report on Friday, September 21st. OTR Global downgraded Caterpillar to a “positive” rating in a research report on Friday, September 21st. Macquarie reaffirmed a “sell” rating on shares of Caterpillar in a research report on Thursday, October 11th. Finally, UBS Group set a $185.00 price target on Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target 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 stock has a market cap of $76.32 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, October 19th. Caterpillar’s payout ratio is 50.00%.
In related news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the transaction, the insider now directly owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lange Bob De bought 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased 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 owns 11,310 shares in the company, valued at $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Jennison Associates LLC grew its position in Caterpillar by 5.4% during the 2nd quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock worth $874,069,000 after purchasing an additional 327,470 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Caterpillar by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,290,431 shares of the industrial products company’s stock worth $349,268,000 after purchasing an additional 50,927 shares during the period. Dimensional Fund Advisors LP grew its position in Caterpillar by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock worth $291,325,000 after purchasing an additional 151,960 shares during the period. Swiss National Bank grew its position in Caterpillar by 3.5% during the 2nd quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock worth $268,086,000 after purchasing an additional 67,200 shares during the period. Finally, Janus Henderson Group PLC grew its position in Caterpillar by 23.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after purchasing an additional 374,038 shares during the period. 66.56% of the stock is currently owned by hedge funds and other institutional investors.
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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