Caterpillar, Inc. (CAT) Reaches New 1-Year High at $126.61
Caterpillar, Inc. (NYSE:CAT) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $126.61 and last traded at $126.62, with a volume of 1,417,789 shares changing hands. The stock had previously closed at $125.51.
Several research analysts have recently commented on the stock. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Vetr raised shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price target for the company in a report on Thursday, August 10th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a report on Thursday, July 13th. Citigroup Inc. lifted their price target on shares of Caterpillar from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $114.03.
The firm has a market cap of $74.70 billion, a price-to-earnings ratio of 706.15 and a beta of 1.26. The company has a 50 day moving average price of $120.21 and a 200-day moving average price of $107.76. Caterpillar also saw some unusual options trading activity on Wednesday. Stock investors purchased 21,220 call options on the stock. This is an increase of approximately 166% compared to the typical daily volume of 7,980 call options.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. Caterpillar’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. Analysts predict that Caterpillar, Inc. will post $5.25 earnings per share for the current fiscal year.
In related news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now owns 18,188 shares in the company, valued at $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 over the last quarter. 0.14% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in CAT. Quadrant Capital Group LLC raised its position in shares of Caterpillar by 10.6% in 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 acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $104,000. Motco raised its position in shares of Caterpillar by 264.9% in 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 acquired a new stake in shares of Caterpillar in the 1st quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC raised its position in shares of Caterpillar by 900.0% in 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 and hedge funds own 69.24% of the company’s stock.
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