Investors Buy Caterpillar, Inc. (CAT) on Weakness
Investors purchased shares of Caterpillar, Inc. (NYSE:CAT) on weakness during trading on Thursday. $82.55 million flowed into the stock on the tick-up and $60.16 million flowed out of the stock on the tick-down, for a money net flow of $22.39 million into the stock. Of all equities tracked, Caterpillar had the 26th highest net in-flow for the day. Caterpillar traded down ($0.06) for the day and closed at $124.79
Several equities research analysts have recently weighed in on the company. Credit Suisse Group reiterated a “hold” rating and set a $133.00 price target on shares of Caterpillar in a research report on Friday. Tigress Financial reiterated a “buy” rating on shares of Caterpillar in a research report on Monday, September 18th. UBS AG upgraded Caterpillar from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.00 to $140.00 in a research report on Monday, September 18th. BMO Capital Markets upped their price target on Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, September 14th. Finally, Vetr cut Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price target on the stock. in a research report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $114.03.
The firm’s 50 day moving average price is $116.33 and its 200-day moving average price is $105.20. The company has a market capitalization of $73.53 billion, a PE ratio of 695.14 and a beta of 1.24.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, equities research analysts forecast that Caterpillar, Inc. will post $5.25 EPS for the current year.
In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at approximately $104,000. Motco increased its position in shares of Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Reilly Financial Advisors LLC increased its position in shares of Caterpillar by 92.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 535 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of Caterpillar during the 1st quarter valued at approximately $107,000. 69.24% of the stock is currently owned by hedge funds and other institutional investors.
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