Caterpillar (NYSE:CAT) Stock Price Down 0.1%

Caterpillar Inc. (NYSE:CAT) shares were down 0.1% on Tuesday . The stock traded as low as $327.85 and last traded at $328.73. Approximately 446,999 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,704,068 shares. The stock had previously closed at $329.08.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CAT shares. Raymond James started coverage on Caterpillar in a research report on Friday. They set a “market perform” rating on the stock. HSBC lifted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and raised their price target for the stock from $293.00 to $350.00 in a report on Friday, April 26th. Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $329.63.

Caterpillar Price Performance

The stock’s fifty day moving average price is $339.74 and its 200-day moving average price is $329.78. The firm has a market cap of $159.52 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, equities analysts expect that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is currently 23.48%.

Caterpillar declared that its board has approved a share repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Caterpillar news, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caterpillar

A number of large investors have recently modified their holdings of CAT. Vanguard Group Inc. boosted its stake in Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after acquiring an additional 129,216 shares in the last quarter. Capital World Investors grew its position in shares of Caterpillar by 0.3% during the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after acquiring an additional 96,479 shares during the last quarter. Fisher Asset Management LLC raised its position in Caterpillar by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after purchasing an additional 179,908 shares during the last quarter. Morgan Stanley raised its holdings in shares of Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after buying an additional 47,258 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Caterpillar during the fourth quarter worth about $1,660,560,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

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.