Caterpillar (NYSE:CAT) Trading Down 0.4% – What’s Next?

Shares of Caterpillar Inc. (NYSE:CAT) were down 0.4% during trading on Monday . The stock traded as low as $389.92 and last traded at $390.79. Approximately 358,277 shares changed hands during trading, a decline of 86% from the average daily volume of 2,632,053 shares. The stock had previously closed at $392.45.

Analyst Ratings Changes

Several analysts have commented on CAT shares. Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Citigroup raised their price target on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar Stock Performance

The company has a market capitalization of $190.75 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a 50-day simple moving average of $363.86 and a two-hundred day simple moving average of $350.16.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.55 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Insider Activity

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently bought and sold shares of CAT. Southland Equity Partners LLC increased its holdings in Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 30 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Caterpillar during the 1st quarter worth approximately $7,997,000. Harbor Investment Advisory LLC increased its holdings in Caterpillar by 12.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,495 shares of the industrial products company’s stock worth $914,000 after purchasing an additional 274 shares during the last quarter. Strategic Planning Group LLC increased its holdings in Caterpillar by 7.5% during the 1st quarter. Strategic Planning Group LLC now owns 6,355 shares of the industrial products company’s stock worth $2,329,000 after purchasing an additional 445 shares during the last quarter. Finally, Crane Advisory LLC increased its holdings in Caterpillar by 7.4% during the 1st quarter. Crane Advisory LLC now owns 1,014 shares of the industrial products company’s stock worth $375,000 after purchasing an additional 70 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

About Caterpillar

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.