Caterpillar (NYSE:CAT) Insider Lange Bob De Sells 14,638 Shares

Caterpillar Inc. (NYSE:CAT) insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This represents a 15.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Caterpillar Stock Performance

Caterpillar stock opened at $562.82 on Friday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $263.39 billion, a P/E ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51. The stock’s 50 day moving average is $491.77 and its 200 day moving average is $417.84.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the previous year, the company posted $5.17 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

Hedge Funds Weigh In On Caterpillar

Institutional investors and hedge funds have recently made changes to their positions in the business. Marquette Asset Management LLC boosted its stake in shares of Caterpillar by 1,060.0% during the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 53 shares during the last quarter. Joseph Group Capital Management bought a new position in Caterpillar in the 3rd quarter worth $32,000. Kilter Group LLC purchased a new position in Caterpillar during the second quarter valued at $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar during the second quarter valued at about $28,000. Finally, Sellwood Investment Partners LLC purchased a new stake in Caterpillar in the third quarter worth about $35,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday. Oppenheimer boosted their price objective on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $660.00 in a research report on Wednesday. Truist Financial restated a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average target price of $588.94.

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.