Caterpillar (NYSE:CAT) Trading Up 0.1% – Time to Buy?

Shares of Caterpillar Inc. (NYSE:CAT) were up 0.1% during mid-day trading on Thursday . The company traded as high as $397.12 and last traded at $394.01. Approximately 356,247 shares traded hands during trading, a decline of 86% from the average daily volume of 2,635,689 shares. The stock had previously closed at $393.62.

Analysts Set New Price Targets

A number of equities analysts recently commented on CAT shares. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. UBS Group lifted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average price target of $355.50.

Caterpillar Stock Performance

The stock has a market capitalization of $192.61 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The business’s fifty day moving average is $363.86 and its two-hundred day moving average is $350.44. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last issued 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. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period last year, the company posted $5.55 EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Insider Transactions at Caterpillar

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

Institutional Investors Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently modified their holdings of the business. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter worth $27,000. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Fairman Group LLC bought a new position in Caterpillar in the 1st quarter worth about $29,000. Finally, Fairscale Capital LLC purchased a new position in shares of Caterpillar during the second quarter worth approximately $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Company Profile

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.