Traders Buy High Volume of Put Options on Caterpillar (CAT)
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.
Caterpillar Company Profile
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