Caterpillar (NYSE:CAT) Shares Up 0.7%

Caterpillar Inc. (NYSE:CAT) rose 0.7% during mid-day trading on Thursday . The company traded as high as $329.15 and last traded at $328.88. Approximately 417,466 shares traded hands during trading, a decline of 84% from the average daily volume of 2,657,287 shares. The stock had previously closed at $326.73.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAT. Citigroup began coverage on Caterpillar in a research note on Wednesday. They issued a “buy” rating and a $380.00 price objective on the stock. HSBC upped their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and boosted their target price for the stock from $293.00 to $350.00 in a report on Friday, April 26th. Raymond James initiated coverage on shares of Caterpillar in a research note on Friday. They set a “market perform” rating for the company. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $329.63.

Caterpillar Trading Up 1.7 %

The company has a market cap of $162.90 billion, a PE ratio of 15.04, a PEG ratio of 1.68 and a beta of 1.14. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The company has a 50 day simple moving average of $340.31 and a two-hundred day simple moving average of $328.57.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Sell-side analysts forecast that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors 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 1.69%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

Caterpillar announced that its board has authorized a share buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director David Maclennan bought 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The transaction 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 firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares in the company, valued at $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

Hedge funds have recently made changes to their positions in the stock. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar in the first quarter valued at $27,000. Fairman Group LLC bought a new stake in Caterpillar in the 1st quarter valued at $29,000. Partnership Wealth Management LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the 4th quarter valued at about $27,000. Finally, Vima LLC bought a new stake in Caterpillar in the fourth quarter valued at about $30,000. Institutional investors 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.