Caterpillar, Inc. (NYSE:CAT) was the target of unusually large options trading on Friday. Traders bought 27,892 put options on the company. This represents an increase of 293% compared to the typical daily volume of 7,093 put options.

A number of equities analysts have recently commented on the company. BMO Capital Markets lifted their price objective on Caterpillar from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, September 14th. Credit Suisse Group reiterated a “buy” rating and issued a $123.00 price objective on shares of Caterpillar in a research note on Thursday, June 22nd. Zacks Investment Research lowered Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Finally, Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective on the stock. in a research note on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $114.03.

Caterpillar (CAT) opened at 126.93 on Monday. The stock has a 50 day moving average of $120.60 and a 200-day moving average of $107.99. The company has a market cap of $75.01 billion, a PE ratio of 709.11 and a beta of 1.25. Caterpillar has a 1-year low of $80.33 and a 1-year high of $127.09.

Caterpillar (NYSE:CAT) last issued its 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. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Caterpillar will post $5.25 earnings per share for the current year.

In other news, insider Suzette M. Long sold 13,859 shares of Caterpillar stock in a transaction dated 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 transaction, the insider now directly owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction dated Thursday, July 27th. The stock was 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. Insiders sold 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.

Institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its position in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new stake in Caterpillar in the second quarter valued at approximately $104,000. Motco boosted its position in Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Caterpillar in the first quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC boosted its position in Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 69.24% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/09/traders-buy-high-volume-of-put-options-on-caterpillar-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.