Seaport Global Securities Comments on Caterpillar, Inc.’s Q3 2017 Earnings (CAT)
Caterpillar, Inc. (NYSE:CAT) – Equities researchers at Seaport Global Securities issued their Q3 2017 earnings per share (EPS) estimates for shares of Caterpillar in a report issued on Wednesday. Seaport Global Securities analyst M. Shlisky expects that the industrial products company will earn $1.20 per share for the quarter. Seaport Global Securities currently has a “Neutral” rating and a $120.00 price objective on the stock. Seaport Global Securities also issued estimates for Caterpillar’s Q4 2017 earnings at $1.16 EPS, FY2017 earnings at $5.20 EPS, Q1 2018 earnings at $1.51 EPS, Q2 2018 earnings at $1.97 EPS, Q3 2018 earnings at $1.53 EPS, Q4 2018 earnings at $1.52 EPS, FY2018 earnings at $6.54 EPS and FY2019 earnings at $7.34 EPS.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The business had revenue of $11.33 billion for 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%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share.
A number of other brokerages have also commented on CAT. ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price target on the stock. in a report on Monday. Royal Bank Of Canada restated a “hold” rating on shares of Caterpillar in a report on Tuesday, August 29th. Jefferies Group LLC reiterated a “hold” rating and set a $100.00 target price on shares of Caterpillar in a report on Tuesday, August 29th. Finally, BidaskClub upgraded Caterpillar from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned 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 target price of $106.94.
Caterpillar (NYSE:CAT) opened at 117.77 on Friday. The stock’s 50 day moving average is $114.18 and its 200-day moving average is $103.74. The stock has a market capitalization of $69.60 billion, a price-to-earnings ratio of 657.93 and a beta of 1.24. Caterpillar has a 12 month low of $79.93 and a 12 month high of $119.19.
The business also recently declared a quarterly dividend, which was paid on Saturday, August 19th. Investors of record on Thursday, July 20th were given a dividend of $0.78 per share. The ex-dividend date was Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.65%. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is currently 2,080.00%.
In related news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value 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 have sold 201,471 shares of company stock worth $22,979,332 in the last three months. 0.15% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. FMR LLC grew its position in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after buying an additional 2,052,300 shares in the last quarter. Morgan Stanley grew its position in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA grew its position in Caterpillar by 16.9% during the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Caterpillar by 8.1% during the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares in the last quarter. 69.23% of the stock is currently owned by institutional investors and hedge funds.
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