Caterpillar (NYSE:CAT) Trading Up 0.4% – Should You Buy?

Caterpillar Inc. (NYSE:CAT) shares traded up 0.4% during mid-day trading on Friday . The stock traded as high as $392.03 and last traded at $388.69. 266,465 shares traded hands during trading, a decline of 90% from the average session volume of 2,616,103 shares. The stock had previously closed at $387.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup upped their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group upped their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar Trading Down 0.2 %

The firm has a market cap of $189.00 billion, a P/E ratio of 17.46, a PEG ratio of 1.85 and a beta of 1.10. The company has a 50 day moving average of $367.72 and a 200 day moving average of $350.86. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

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

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, 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 transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several hedge funds and other institutional investors have recently modified their holdings of CAT. Acadian Asset Management LLC lifted its holdings in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares during the period. Alpha Cubed Investments LLC increased its position in Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares during the period. Diversify Advisory Services LLC acquired a new stake in Caterpillar in the first quarter worth about $926,000. First Affirmative Financial Network acquired a new stake in Caterpillar in the third quarter worth about $204,000. Finally, Inspire Advisors LLC increased its position in Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after purchasing an additional 1,694 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.