Investors Buy Shares of Caterpillar (CAT) on Weakness
Investors bought shares of Caterpillar Inc. (NYSE:CAT) on weakness during trading on Friday. $225.56 million flowed into the stock on the tick-up and $174.54 million flowed out of the stock on the tick-down, for a money net flow of $51.02 million into the stock. Of all stocks tracked, Caterpillar had the 18th highest net in-flow for the day. Caterpillar traded down ($2.60) for the day and closed at $135.92
Several equities research analysts have weighed in on CAT shares. Wells Fargo & Co set a $180.00 price target on shares of Caterpillar and gave the company a “buy” rating in a research note on Monday, April 16th. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Wednesday, April 18th. Citigroup raised shares of Caterpillar from a “neutral” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Monday, April 23rd. Seaport Global Securities reiterated a “buy” rating and set a $173.00 price objective on shares of Caterpillar in a report on Wednesday, April 25th. Finally, UBS Group set a $178.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, April 25th. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Caterpillar presently has a consensus rating of “Buy” and an average target price of $171.85.
The company has a market cap of $82.33 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, July 20th will be paid a $0.86 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.53%. Caterpillar’s dividend payout ratio is 50.00%.
In other Caterpillar news, Director David L. Calhoun acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was bought at an average price of $155.37 per share, with a total value of $776,850.00. Following the purchase, the director now owns 19,579 shares of the company’s stock, valued at $3,041,989.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Avestar Capital LLC increased its stake in shares of Caterpillar by 92.3% in the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 477 shares in the last quarter. Lee Financial Co increased its stake in Caterpillar by 365.1% during the 1st quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 639 shares in the last quarter. Ballew Advisors Inc bought a new stake in Caterpillar during the 1st quarter valued at about $121,000. Stelac Advisory Services LLC bought a new stake in Caterpillar during the 1st quarter valued at about $129,000. Finally, Landaas & Co. WI ADV bought a new stake in Caterpillar during the 2nd quarter valued at about $130,000. 67.17% of the stock is owned by institutional investors and hedge funds.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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