Insider Selling: Caterpillar Inc. (CAT) Director Sells $88,844.00 in Stock
Caterpillar Inc. (NYSE:CAT) Director Daniel M. Dickinson sold 950 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $93.52, for a total transaction of $88,844.00. Following the completion of the sale, the director now directly owns 17,476 shares in the company, valued at approximately $1,634,355.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Caterpillar Inc. (NYSE:CAT) opened at 93.35 on Thursday. The company’s 50-day moving average is $87.20 and its 200 day moving average is $80.59. Caterpillar Inc. has a 12-month low of $56.36 and a 12-month high of $95.50. The stock has a market capitalization of $54.62 billion, a PE ratio of 90.81 and a beta of 1.30.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.09. Caterpillar had a return on equity of 12.79% and a net margin of 2.54%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.91 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. On average, analysts predict that Caterpillar Inc. will post $3.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Shareholders of record on Monday, October 24th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, October 20th. Caterpillar’s payout ratio is 179.07%.
Several brokerages recently issued reports on CAT. Jefferies Group reiterated a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 3rd. Citigroup Inc. upped their target price on shares of Caterpillar from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Barclays PLC upped their target price on shares of Caterpillar from $78.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 12th. Vetr downgraded shares of Caterpillar from a “hold” rating to a “sell” rating and set a $82.00 target price on the stock. in a research report on Tuesday, November 8th. Finally, Axiom Securities restated a “sell” rating on shares of Caterpillar in a research report on Tuesday, August 30th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $78.26.
Several large investors have recently made changes to their positions in CAT. FMR LLC increased its position in shares of Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock valued at $659,404,000 after buying an additional 6,557,618 shares during the last quarter. Capital World Investors raised its stake in shares of Caterpillar by 16.2% in the third quarter. Capital World Investors now owns 18,220,351 shares of the company’s stock valued at $1,617,421,000 after buying an additional 2,546,164 shares in the last quarter. Morgan Stanley raised its stake in shares of Caterpillar by 43.2% in the third quarter. Morgan Stanley now owns 7,107,107 shares of the company’s stock valued at $630,896,000 after buying an additional 2,143,886 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Caterpillar during the third quarter valued at about $155,178,000. Finally, Eaton Vance Management boosted its position in shares of Caterpillar by 275.4% in the third quarter. Eaton Vance Management now owns 1,857,860 shares of the company’s stock worth $164,922,000 after buying an additional 1,363,002 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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