Caterpillar (NYSE:CAT) Director David Maclennan Buys 350 Shares of Stock

Caterpillar Inc. (NYSE:CAT) Director David Maclennan bought 350 shares of the stock in a transaction on Thursday, November 12th. The stock was purchased at an average price of $596.10 per share, for a total transaction of $208,635.00. Following the completion of the purchase, the director owned 8,773 shares of the company’s stock, valued at approximately $5,229,585.30. This trade represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $5.48 during trading on Friday, reaching $599.80. 2,287,211 shares of the stock traded hands, compared to its average volume of 3,857,929. Caterpillar Inc. has a 52-week low of $537.08 and a 52-week high of $1,073.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 0.88. The company has a 50-day moving average of $740.65 and a 200-day moving average of $805.20. The stock has a market capitalization of $274.46 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.14. The company had revenue of $20.68 billion during the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.95 EPS. Analysts forecast that Caterpillar Inc. will post 27.38 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio is presently 25.58%.

Caterpillar News Roundup

These are some of the CAT news items that stood out recently:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Positive Sentiment: Investor Kevin Simpson reportedly bought more CAT shares, a favorable sentiment signal, though the article does not provide the rationale or size of the purchase. Trade tracker: Kevin Simpson buys more Caterpillar
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Caterpillar investors. The release does not detail the claims, but the investigation could add legal uncertainty. Pomerantz Law Firm Investigates Claims

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CAT shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $749.00 price objective on shares of Caterpillar in a research note on Wednesday, October 14th. President Capital started coverage on shares of Caterpillar in a research note on Friday, September 18th. They issued a “buy” rating and a $999.00 target price on the stock. Morgan Stanley cut their price target on shares of Caterpillar from $915.00 to $675.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Oppenheimer restated an “outperform” rating and set a $1,009.00 price target on shares of Caterpillar in a research report on Thursday, October 29th. Finally, Wells Fargo & Company decreased their price target on shares of Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $898.25.

Institutional Trading of Caterpillar

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Caterpillar during the second quarter valued at about $40,457,153,000. State Street Corp lifted its stake in Caterpillar by 4.0% during the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock worth $37,120,529,000 after purchasing an additional 1,396,356 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Caterpillar in the 2nd quarter worth about $5,818,150,000. Bank of New York Mellon Corp purchased a new position in shares of Caterpillar in the 2nd quarter worth about $3,192,710,000. Finally, Legal & General Group Plc bought a new position in shares of Caterpillar during the 2nd quarter valued at about $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

About Caterpillar

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.