Traders Sell Caterpillar (CAT) on Strength (CAT)

Traders sold shares of Caterpillar, Inc. (NYSE:CAT) on strength during trading hours on Wednesday. $67.48 million flowed into the stock on the tick-up and $140.54 million flowed out of the stock on the tick-down, for a money net flow of $73.06 million out of the stock. Of all equities tracked, Caterpillar had the 16th highest net out-flow for the day. Caterpillar traded up $0.20 for the day and closed at $140.34

CAT has been the topic of several recent research reports. Vetr upgraded Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective on the stock in a research report on Thursday, August 10th. BidaskClub cut Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Royal Bank Of Canada reiterated a “hold” rating on shares of Caterpillar in a research report on Tuesday, August 29th. Jefferies Group reiterated a “hold” rating and set a $100.00 price objective on shares of Caterpillar in a research report on Tuesday, August 29th. Finally, ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $136.28.

The firm has a market cap of $84,183.11, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 2.14 and a beta of 1.29. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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. The business had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. Caterpillar’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. research analysts expect that Caterpillar, Inc. will post 6.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.

In other news, CFO Bradley M. Halverson sold 17,210 shares of Caterpillar stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of Caterpillar stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Insiders sold 52,989 shares of company stock worth $7,235,850 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. AXA raised its position in shares of Caterpillar by 1.4% during the third quarter. AXA now owns 147,194 shares of the industrial products company’s stock worth $18,356,000 after acquiring an additional 2,064 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Caterpillar during the third quarter worth about $1,989,000. Public Employees Retirement System of Ohio raised its position in shares of Caterpillar by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 394,172 shares of the industrial products company’s stock worth $49,157,000 after acquiring an additional 1,825 shares during the last quarter. Crestwood Advisors Group LLC raised its position in shares of Caterpillar by 24.2% during the third quarter. Crestwood Advisors Group LLC now owns 4,004 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 779 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of Caterpillar by 1.9% during the third quarter. Salem Investment Counselors Inc. now owns 30,919 shares of the industrial products company’s stock worth $3,851,000 after acquiring an additional 590 shares during the last quarter. 68.61% of the stock is currently owned by hedge funds and other institutional investors.

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