Investors Sell Caterpillar, Inc. (CAT) on Strength (CAT)
Traders sold shares of Caterpillar, Inc. (NYSE:CAT) on strength during trading on Thursday. $58.35 million flowed into the stock on the tick-up and $108.14 million flowed out of the stock on the tick-down, for a money net flow of $49.79 million out of the stock. Of all equities tracked, Caterpillar had the 0th highest net out-flow for the day. Caterpillar traded up $0.85 for the day and closed at $120.48
Several brokerages have recently weighed in on CAT. BMO Capital Markets upped their price target on Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday. Credit Suisse Group reiterated a “buy” rating and set a $123.00 price target on shares of Caterpillar in a research report on Thursday, June 22nd. Bank of America Corporation set a $120.00 price target on Caterpillar and gave the company a “buy” rating in a research report on Tuesday, June 20th. Vetr cut Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price target on the stock. in a research report on Monday, September 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $125.00 price target on shares of Caterpillar in a research report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $111.74.
The company’s 50-day moving average price is $115.74 and its 200 day moving average price is $104.67. The firm has a market capitalization of $71.73 billion, a P/E ratio of 678.04 and a beta of 1.24.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Analysts expect that Caterpillar, Inc. will post $5.24 EPS for the current year.
In related news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CAT. Quadrant Capital Group LLC boosted its holdings in Caterpillar by 10.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 128 shares during the period. Baker Ellis Asset Management LLC purchased a new position in Caterpillar during the 2nd quarter valued at $104,000. Motco boosted its holdings in Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 718 shares during the period. Harbour Capital Advisors LLC purchased a new position in Caterpillar during the 1st quarter valued at $107,000. Finally, Acrospire Investment Management LLC boosted its holdings in Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 900 shares during the period. Institutional investors own 69.23% of the company’s stock.
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Caterpillar Company Profile
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