Caterpillar Inc. (NYSE:CAT – Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 6,610,000 shares, an increase of 7.5% from the October 15th total of 6,150,000 shares. Based on an average daily volume of 2,640,000 shares, the short-interest ratio is presently 2.5 days. Approximately 1.3% of the shares of the stock are short sold.
Caterpillar Stock Up 2.0 %
CAT traded up $4.86 during trading on Friday, hitting $253.07. 3,438,183 shares of the company’s stock traded hands, compared to its average volume of 3,065,409. The company’s 50 day simple moving average is $259.40 and its two-hundred day simple moving average is $252.26. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 1.18. Caterpillar has a 12-month low of $204.04 and a 12-month high of $293.88. The stock has a market capitalization of $128.83 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.02 and a beta of 1.09.
Caterpillar (NYSE:CAT – Get Free Report) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $5.52 EPS for the quarter, beating the consensus estimate of $4.75 by $0.77. The business had revenue of $16.81 billion for the quarter, compared to the consensus estimate of $16.57 billion. Caterpillar had a return on equity of 56.29% and a net margin of 13.69%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $3.95 EPS. Analysts predict that Caterpillar will post 20.48 earnings per share for the current fiscal year.
Caterpillar Dividend Announcement
Insiders Place Their Bets
In other news, insider Anthony D. Fassino sold 2,923 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total value of $815,517.00. Following the completion of the sale, the insider now owns 16,182 shares of the company’s stock, valued at approximately $4,514,778. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.
Hedge Funds Weigh In On Caterpillar
A number of institutional investors have recently bought and sold shares of CAT. West Financial Advisors LLC bought a new position in Caterpillar in the 2nd quarter worth $25,000. Northwest Capital Management Inc bought a new stake in Caterpillar during the second quarter valued at about $25,000. Atlas Capital Advisors LLC raised its holdings in Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 95 shares during the period. Finally, First Capital Advisors Group LLC. bought a new stake in Caterpillar during the second quarter valued at about $30,000. 69.20% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CAT has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on Caterpillar from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Barclays upped their price target on Caterpillar from $225.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. TD Cowen upped their target price on Caterpillar from $287.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. The Goldman Sachs Group reduced their target price on Caterpillar from $315.00 to $274.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Finally, Tigress Financial upped their target price on Caterpillar from $282.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $267.68.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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