Caterpillar (NYSE:CAT) Stock Price Down 1.2% – What’s Next?

Caterpillar Inc. (NYSE:CAT) fell 1.2% during mid-day trading on Tuesday . The company traded as low as $385.73 and last traded at $385.89. 384,585 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,631,286 shares. The stock had previously closed at $390.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAT shares. Evercore ISI decreased their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $355.50.

Caterpillar Trading Down 0.4 %

The stock has a market cap of $190.30 billion, a PE ratio of 17.58, a PEG ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The business has a 50-day moving average of $364.94 and a 200 day moving average of $350.30.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the company posted $5.55 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio is presently 25.46%.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caterpillar

Large investors have recently modified their holdings of the stock. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar in the 1st quarter valued at $27,000. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar during the 2nd quarter worth approximately $28,000. Fairman Group LLC bought a new stake in shares of Caterpillar during the first quarter worth $29,000. Finally, Fairscale Capital LLC acquired a new position in Caterpillar in the 2nd quarter worth $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.