Investors Sell Caterpillar Inc. (CAT) on Strength (CAT)
Investors sold shares of Caterpillar Inc. (NYSE:CAT) on strength during trading on Friday. $104.76 million flowed into the stock on the tick-up and $180.04 million flowed out of the stock on the tick-down, for a money net flow of $75.28 million out of the stock. Of all stocks tracked, Caterpillar had the 0th highest net out-flow for the day. Caterpillar traded up $0.02 for the day and closed at $82.05
CAT has been the topic of a number of research reports. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research note on Tuesday, August 30th. Citigroup Inc. set a $82.00 target price on shares of Caterpillar and gave the company a “hold” rating in a research note on Tuesday, August 16th. Jefferies Group reaffirmed a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. Morgan Stanley reaffirmed a “hold” rating and set a $67.00 price target on shares of Caterpillar in a research note on Thursday, July 28th. Finally, Deutsche Bank AG initiated coverage on shares of Caterpillar in a research note on Tuesday, September 6th. They set a “buy” rating and a $72.56 price target on the stock. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. Caterpillar currently has an average rating of “Hold” and a consensus price target of $72.24.
The firm has a market cap of $47.94 billion, a price-to-earnings ratio of 54.70 and a beta of 1.64. The company has a 50 day moving average price of $82.95 and a 200-day moving average price of $76.79.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. Analysts predict that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
In other news, Director Dennis A. Muilenburg bought 1,930 shares of the stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $82.75 per share, with a total value of $159,707.50. Following the acquisition, the director now owns 9,558 shares in the company, valued at $790,924.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares in the company, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CAT. FMR LLC raised its stake in Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock valued at $659,404,000 after buying an additional 6,557,618 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Caterpillar by 51.2% in the first quarter. BlackRock Fund Advisors now owns 9,829,850 shares of the company’s stock worth $752,377,000 after buying an additional 3,327,684 shares in the last quarter. Norges Bank bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $172,945,000. Emerald Acquisition Ltd. bought a new stake in shares of Caterpillar during the second quarter worth approximately $77,081,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Caterpillar by 640.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock worth $75,810,000 after buying an additional 865,000 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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