Caterpillar Target of Unusually Large Options Trading (CAT)
Caterpillar, Inc. (NYSE:CAT) saw unusually large options trading on Monday. Investors bought 20,797 call options on the stock. This represents an increase of 131% compared to the average daily volume of 8,998 call options.
Several equities research analysts have commented on CAT shares. BMO Capital Markets restated a “buy” rating and set a $130.00 price target on shares of Caterpillar in a research note on Friday, September 8th. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price for the company. in a research note on Monday, September 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $100.00 target price on shares of Caterpillar in a research note on Tuesday, August 29th. Deutsche Bank AG lowered 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 research note on Friday, June 23rd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $133.00 target price (up previously from $123.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $114.03.
Caterpillar (NYSE:CAT) opened at 124.43 on Friday. Caterpillar has a 12-month low of $80.33 and a 12-month high of $125.42. The company has a market cap of $73.53 billion, a P/E ratio of 695.14 and a beta of 1.24. The firm’s 50-day moving average price is $116.33 and its 200-day moving average price is $105.20.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts expect that Caterpillar will post $5.25 EPS for the current year.
In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 over the last 90 days. 0.15% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CAT. Quadrant Capital Group LLC increased its stake in Caterpillar by 10.6% during the second 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 bought a new position in Caterpillar during the second quarter valued at about $104,000. Motco increased its stake in Caterpillar by 264.9% during the second 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 bought a new position in Caterpillar during the first quarter valued at about $107,000. Finally, Acrospire Investment Management LLC increased its stake in Caterpillar by 900.0% during the second 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. Hedge funds and other institutional investors own 69.24% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://www.thecerbatgem.com/2017/09/23/caterpillar-target-of-unusually-large-options-trading-cat.html.
Caterpillar Company Profile
Receive News & Stock Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related stocks with our FREE daily email newsletter.