Caterpillar (NYSE:CAT) Stock Price Up 1.1% – What’s Next?

Caterpillar Inc. (NYSE:CAT) shares were up 1.1% on Wednesday . The stock traded as high as $393.35 and last traded at $392.23. 377,668 shares traded hands during trading, a decline of 86% from the average session volume of 2,641,310 shares. The stock had previously closed at $387.99.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAT. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $349.00 to $332.00 in a research report on Monday. Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup lifted their target price on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar Stock Performance

The company has a market capitalization of $192.62 billion, a PE ratio of 17.70, 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 current ratio of 1.28 and a quick ratio of 0.78. The stock has a 50-day simple moving average of $362.75 and a 200 day simple moving average of $350.23.

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

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Transactions at Caterpillar

In related news, 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 transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently bought and sold shares of CAT. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $27,000. Fairman Group LLC purchased a new position in Caterpillar in the 1st quarter valued at about $29,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the second quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the second quarter worth about $28,000. Finally, Fairscale Capital LLC acquired a new position in shares of Caterpillar in the second quarter worth about $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.