Caterpillar Inc. (NYSE:CAT) Sees Significant Increase in Short Interest

Caterpillar Inc. (NYSE:CAT) 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) 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

The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be issued a $1.30 dividend. The ex-dividend date is Friday, October 20th. This represents a $5.20 dividend on an annualized basis and a yield of 2.05%. Caterpillar’s dividend payout ratio is currently 29.46%.

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.