Caterpillar (NYSE:CAT) Posts Quarterly Earnings Results

Caterpillar (NYSE:CAT) posted its quarterly earnings data on Wednesday. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16), Briefing.com reports. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $5.52 earnings per share.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $3.65 during mid-day trading on Friday, hitting $379.85. The company had a trading volume of 324,309 shares, compared to its average volume of 2,618,067. The stock has a market cap of $184.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.86 and a beta of 1.10. The firm’s 50 day simple moving average is $371.78 and its two-hundred day simple moving average is $351.32. Caterpillar has a 12 month low of $232.88 and a 12 month high of $403.60. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.78.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. Caterpillar’s payout ratio is currently 26.15%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’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 transaction, the insider now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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 in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday. Citigroup reduced their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Evercore ISI cut their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $357.56.

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.