Caterpillar (NYSE:CAT) Posts Quarterly Earnings Results, Beats Estimates By $0.48 EPS

Caterpillar (NYSE:CAT) released its quarterly earnings results on Thursday. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48, reports. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion.

Caterpillar Stock Performance

CAT stock traded up $5.38 during trading on Friday, reaching $343.38. 3,324,630 shares of the company’s stock were exchanged, compared to its average volume of 2,414,735. Caterpillar has a 1-year low of $204.04 and a 1-year high of $382.01. The firm has a market cap of $171.48 billion, a PE ratio of 15.50, a P/E/G ratio of 1.53 and a beta of 1.17. The company’s fifty day moving average price is $350.10 and its 200-day moving average price is $300.99. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 23.48%.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 350 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan bought 350 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the purchase, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold a total of 35,769 shares of company stock worth $11,508,906 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in Caterpillar in the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar in the first quarter valued at $27,000. Gilfoyle & Co LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at $30,000. Finally, Vima LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $30,000. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Truist Financial assumed coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. Morgan Stanley began coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price on the stock. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and boosted their price target for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. Finally, Citigroup raised their price objective on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $310.83.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.