Stock Traders Buy Large Volume of Call Options on Caterpillar (CAT)
Caterpillar, Inc. (NYSE:CAT) saw unusually large options trading activity on Friday. Traders bought 14,228 call options on the company. This is an increase of approximately 192% compared to the average volume of 4,865 call options.
Shares of Caterpillar (CAT) opened at 115.35 on Monday. Caterpillar has a 52-week low of $79.93 and a 52-week high of $116.64. The stock has a market capitalization of $68.17 billion, a price-to-earnings ratio of 644.41 and a beta of 1.25. The firm’s 50-day moving average is $112.00 and its 200 day moving average is $102.51.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. Caterpillar’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. Equities analysts expect that Caterpillar will post $5.24 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the sale, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders sold a total of 201,471 shares of company stock worth $22,979,332 in the last ninety days. 0.15% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nicolet Bankshares Inc. raised its position in shares of Caterpillar by 4.9% in the first quarter. Nicolet Bankshares Inc. now owns 3,855 shares of the industrial products company’s stock valued at $358,000 after buying an additional 181 shares during the period. Country Trust Bank raised its position in shares of Caterpillar by 2.4% in the first quarter. Country Trust Bank now owns 184,409 shares of the industrial products company’s stock valued at $17,106,000 after buying an additional 4,278 shares during the period. V Wealth Management LLC raised its position in shares of Caterpillar by 15.3% in the first quarter. V Wealth Management LLC now owns 5,108 shares of the industrial products company’s stock valued at $474,000 after buying an additional 677 shares during the period. Diversified Trust Co raised its position in shares of Caterpillar by 1.9% in the first quarter. Diversified Trust Co now owns 2,777 shares of the industrial products company’s stock valued at $258,000 after buying an additional 53 shares during the period. Finally, City Holding Co. raised its position in shares of Caterpillar by 7.2% in the first quarter. City Holding Co. now owns 19,379 shares of the industrial products company’s stock valued at $1,798,000 after buying an additional 1,305 shares during the period. 69.22% of the stock is owned by institutional investors.
CAT has been the topic of a number of analyst reports. Bank of America Corporation raised shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their target price for the company from $105.00 to $120.00 in a report on Thursday, May 11th. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a report on Friday, June 16th. Zacks Investment Research cut shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Deutsche Bank AG cut shares of Caterpillar from a “buy” rating to a “hold” rating and lowered their target price for the company from $121.00 to $106.00 in a report on Friday, June 23rd. Finally, Credit Suisse Group reissued a “buy” rating and set a $123.00 target price on shares of Caterpillar in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $107.15.
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Caterpillar Company Profile
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