Caterpillar, Inc. (CAT) Reaches New 1-Year High at $123.52
Caterpillar, Inc. (NYSE:CAT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $123.52 and last traded at $123.60, with a volume of 2,527,032 shares changing hands. The stock had previously closed at $121.37.
Several equities research analysts have issued reports on the company. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Vetr raised Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price target for the company in a report on Thursday, August 10th. UBS AG raised Caterpillar from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $140.00 in a report on Monday. Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a report on Monday. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $113.55.
The stock’s 50-day moving average price is $115.74 and its 200-day moving average price is $104.67. The firm has a market cap of $73.04 billion, a PE ratio of 690.45 and a beta of 1.24.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The business had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 EPS. On average, equities analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current year.
In other news, Director William A. Osborn sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock worth $22,979,332 over the last quarter. Corporate insiders own 0.15% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Baker Ellis Asset Management LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at about $104,000. Motco grew its position in Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 718 shares during the last quarter. Acrospire Investment Management LLC grew its position in Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 900 shares during the last quarter. Reilly Financial Advisors LLC grew its position in Caterpillar by 92.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 535 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in Caterpillar during the 1st quarter worth approximately $107,000. Hedge funds and other institutional investors own 69.24% of the company’s stock.
Caterpillar Company Profile
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