Key Points
- Insider Anthony Fassino sold 7,891 shares of Caterpillar on Feb. 13 at an average price of $776.90 for about $6.13M, trimming his stake roughly 14.47% to 46,643 shares.
- Caterpillar reported stronger-than-expected quarterly results with EPS $5.16 vs. $4.67 expected and revenue of $19.13B (up 17.9% YoY), reflecting recent robust demand and a 12-month high near $789.81.
- The company declared a quarterly dividend of $1.51 ($6.04 annualized, ~0.8% yield) and analyst sentiment is mostly positive (16 Buys, consensus "Moderate Buy" with a ~$702.95 target), though some near-term EPS estimates were recently lowered.
Caterpillar Inc. (NYSE:CAT - Get Free Report) insider Anthony Fassino sold 7,891 shares of the company's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $776.90, for a total transaction of $6,130,517.90. Following the completion of the transaction, the insider owned 46,643 shares in the company, valued at $36,236,946.70. This trade represents a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Caterpillar Price Performance
Shares of Caterpillar stock opened at $764.27 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $357.66 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 1.83 and a beta of 1.58. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $789.81. The company has a 50-day simple moving average of $641.06 and a two-hundred day simple moving average of $546.70.
Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.67 by $0.49. The company had revenue of $19.13 billion for the quarter, compared to analysts' expectations of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $5.14 earnings per share. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.
Caterpillar Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, January 20th. Caterpillar's dividend payout ratio is presently 32.09%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Caterpillar from $710.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Truist Financial upped their price target on shares of Caterpillar from $729.00 to $786.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Wolfe Research lifted their price objective on shares of Caterpillar from $470.00 to $670.00 and gave the company an "outperform" rating in a research note on Friday, January 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Caterpillar in a research report on Monday, December 29th. Finally, Jefferies Financial Group raised their target price on Caterpillar from $700.00 to $750.00 and gave the company a "buy" rating in a report on Tuesday, January 27th. Sixteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $702.95.
View Our Latest Stock Analysis on CAT
Key Headlines Impacting Caterpillar
Here are the key news stories impacting Caterpillar this week:
Hedge Funds Weigh In On Caterpillar
A number of institutional investors and hedge funds have recently bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at $579,000. Brighton Jones LLC increased its stake in shares of Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares during the period. United Bank increased its stake in shares of Caterpillar by 108.5% in the second quarter. United Bank now owns 4,083 shares of the industrial products company's stock valued at $1,585,000 after buying an additional 2,125 shares during the period. TrueMark Investments LLC acquired a new position in shares of Caterpillar in the second quarter worth approximately $431,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in Caterpillar by 3.2% in the second quarter. Chicago Partners Investment Group LLC now owns 2,578 shares of the industrial products company's stock valued at $1,102,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.
About Caterpillar
(
Get Free Report)
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
