Caterpillar (NYSE:CAT) Stock Price Up 0.4%

Caterpillar Inc. (NYSE:CAT) rose 0.4% during trading on Monday . The stock traded as high as $333.26 and last traded at $329.64. Approximately 421,171 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,685,578 shares. The stock had previously closed at $328.35.

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Citigroup began coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective for the company. HSBC lifted their price objective on 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 Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. Finally, The Goldman Sachs Group lifted their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $329.63.

Caterpillar Trading Up 0.7 %

The company has a market capitalization of $160.60 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.70 and a beta of 1.12. The business has a fifty day moving average price of $337.33 and a 200 day moving average price of $331.46. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, analysts expect that Caterpillar Inc. will post 21.73 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company 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 $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. Caterpillar’s payout ratio is 23.48%.

Caterpillar announced that its board has initiated a stock repurchase program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Caterpillar news, Director David Maclennan purchased 500 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased 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 directly owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred 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 transaction, 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 corporate insiders.

Hedge Funds Weigh In On Caterpillar

Institutional investors and hedge funds have recently made changes to their positions in the company. Carlson Capital Management bought a new stake in shares of Caterpillar in the third quarter valued at approximately $223,000. Braun Stacey Associates Inc. boosted its stake in shares of Caterpillar by 10.7% in the third quarter. Braun Stacey Associates Inc. now owns 2,325 shares of the industrial products company’s stock valued at $635,000 after buying an additional 225 shares during the period. Graham Capital Management L.P. bought a new stake in shares of Caterpillar in the third quarter valued at approximately $246,000. Public Sector Pension Investment Board boosted its stake in shares of Caterpillar by 10.7% in the third quarter. Public Sector Pension Investment Board now owns 54,645 shares of the industrial products company’s stock valued at $14,918,000 after buying an additional 5,297 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in Caterpillar by 47.1% during the third quarter. EP Wealth Advisors LLC now owns 8,474 shares of the industrial products company’s stock worth $2,313,000 after purchasing an additional 2,715 shares during the last quarter. 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.