Caterpillar, Inc. (NYSE:CAT) Director Daniel M. Dickinson sold 3,813 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $137.09, for a total value of $522,724.17. Following the transaction, the director now directly owns 6,554 shares in the company, valued at $898,487.86. The sale was disclosed in a filing with the SEC, which is available through this link.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the company earned $0.85 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.30%. Caterpillar’s payout ratio is 216.67%.
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A number of large investors have recently made changes to their positions in CAT. Baker Ellis Asset Management LLC purchased a new position in shares of Caterpillar during the 2nd quarter valued at about $104,000. Motco increased its stake in Caterpillar by 264.9% in 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 increased its stake in Caterpillar by 900.0% in 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 increased its stake in Caterpillar by 92.9% in 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 stake in Caterpillar in the 1st quarter worth approximately $107,000. 69.34% of the stock is currently owned by institutional investors and hedge funds.
CAT has been the topic of a number of recent research reports. TheStreet upgraded Caterpillar from a “c+” rating to a “b” rating in a research note on Tuesday, July 25th. Bank of America Corporation restated a “buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Caterpillar in a research note on Thursday, July 27th. Credit Suisse Group set a $123.00 price target on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Friday, July 14th. Finally, Tigress Financial upgraded Caterpillar from a “neutral” rating to a “buy” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $133.70.
Caterpillar Company Profile
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