Key Points
- CFO Andrew Bonfield sold 10,000 shares on December 1 at an average price of $571.44 for a total of $5,714,400, leaving him with 55,460 shares (a 15.28% reduction), as disclosed in an SEC filing.
- Research firms have recently raised targets and ratings — including JPMorgan to $730 and Truist to $729 — leaving Caterpillar with a consensus rating of “Moderate Buy” and an average price target of $610.32.
- Caterpillar reported a quarterly earnings beat (EPS $4.95 vs. $4.52 expected) with revenue of $17.64 billion (up 9.5% YoY), and pays a quarterly dividend of $1.51 ($6.04 annual, ~1.0% yield).
Caterpillar Inc. (NYSE:CAT - Get Free Report) CFO Andrew Bonfield sold 10,000 shares of the business's stock in a transaction on Monday, December 1st. The shares were sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the transaction, the chief financial officer owned 55,460 shares in the company, valued at $31,692,062.40. This trade represents a 15.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Caterpillar Stock Up 2.6%
Shares of NYSE CAT opened at $582.68 on Wednesday. The company has a market cap of $272.68 billion, a P/E ratio of 29.91, a PEG ratio of 2.68 and a beta of 1.57. The firm has a 50-day simple moving average of $534.56 and a two-hundred day simple moving average of $447.95. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86.
Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period last year, the company earned $5.17 EPS. Caterpillar's quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.
Caterpillar Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar's dividend payout ratio (DPR) is 31.01%.
Institutional Investors Weigh In On Caterpillar
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacific Point Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $579,000. Brighton Jones LLC boosted its position in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after buying an additional 2,519 shares during the period. Manchester Capital Management LLC boosted its holdings in Caterpillar by 21.0% during the 1st quarter. Manchester Capital Management LLC now owns 1,216 shares of the industrial products company's stock valued at $401,000 after acquiring an additional 211 shares during the period. Avalon Trust Co grew its holdings in shares of Caterpillar by 11.6% in the first quarter. Avalon Trust Co now owns 521 shares of the industrial products company's stock valued at $172,000 after purchasing an additional 54 shares in the last quarter. Finally, Raiffeisen Bank International AG grew its stake in shares of Caterpillar by 31.5% in the first quarter. Raiffeisen Bank International AG now owns 11,735 shares of the industrial products company's stock worth $3,869,000 after acquiring an additional 2,808 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on CAT. JPMorgan Chase & Co. raised their price objective on Caterpillar from $650.00 to $730.00 and gave the stock an "overweight" rating in a report on Thursday, October 30th. Robert W. Baird boosted their price objective on shares of Caterpillar from $612.00 to $680.00 and gave the stock an "outperform" rating in a research note on Thursday, October 30th. HSBC upgraded Caterpillar from a "hold" rating to a "buy" rating and increased their price target for the company from $405.00 to $660.00 in a research note on Wednesday, November 5th. Evercore ISI lifted their price objective on shares of Caterpillar from $476.00 to $630.00 and gave the stock an "outperform" rating in a research note on Monday, November 17th. Finally, Truist Financial reaffirmed a "buy" rating and set a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $610.32.
Check Out Our Latest Research Report on CAT
Caterpillar Company Profile
(
Get Free Report)
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.
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