Caterpillar (NYSE:CAT) Releases Quarterly Earnings Results, Beats Estimates By $0.48 EPS

Caterpillar (NYSE:CAT) posted its quarterly earnings results on Thursday. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48, reports. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%.

Caterpillar Stock Up 1.6 %

Caterpillar stock opened at $343.37 on Friday. The company has a market capitalization of $171.48 billion, a PE ratio of 15.50, a PEG ratio of 1.51 and a beta of 1.17. Caterpillar has a 12-month low of $204.04 and a 12-month high of $382.01. The firm’s fifty day moving average is $350.10 and its 200 day moving average is $300.80. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

Analysts Set New Price Targets

A number of research firms have recently commented on CAT. StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Robert W. Baird raised their target price on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research report on Tuesday, February 6th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and upped their price target for the stock from $293.00 to $350.00 in a report on Friday. Morgan Stanley initiated coverage on Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price objective on the stock. Finally, Citigroup lifted their price target on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $310.83.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,769 shares of company stock worth $11,508,906. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caterpillar

Several large investors have recently made changes to their positions in CAT. Hanlon Investment Management Inc. boosted its holdings in Caterpillar by 20.6% in the 3rd quarter. Hanlon Investment Management Inc. now owns 996 shares of the industrial products company’s stock worth $272,000 after buying an additional 170 shares during the period. Culbertson A N & Co. Inc. grew its position in shares of Caterpillar by 0.3% in the third quarter. Culbertson A N & Co. Inc. now owns 43,515 shares of the industrial products company’s stock valued at $11,879,000 after purchasing an additional 144 shares in the last quarter. Occidental Asset Management LLC raised its stake in shares of Caterpillar by 36.7% during the 3rd quarter. Occidental Asset Management LLC now owns 7,699 shares of the industrial products company’s stock valued at $2,102,000 after purchasing an additional 2,065 shares during the period. SS&H Financial Advisors Inc. bought a new position in Caterpillar in the 3rd quarter worth about $962,000. Finally, Measured Wealth Private Client Group LLC grew its holdings in Caterpillar by 8.0% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 1,120 shares of the industrial products company’s stock valued at $306,000 after buying an additional 83 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.