Caterpillar (NYSE:CAT) Stock Price Down 0.2%

Caterpillar Inc. (NYSE:CAT) shares were down 0.2% during trading on Monday . The stock traded as low as $319.00 and last traded at $320.71. Approximately 478,879 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,586,751 shares. The stock had previously closed at $321.47.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Stifel Nicolaus lowered shares of Caterpillar from a “buy” rating to a “hold” rating and raised their price objective for the company from $293.00 to $350.00 in a research report on Friday, April 26th. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their target price for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. TD Cowen increased their target price on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $323.35.

Caterpillar Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The business’s 50 day simple moving average is $347.82 and its two-hundred day simple moving average is $324.59. The stock has a market capitalization of $158.30 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.81 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.74%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s payout ratio is currently 23.48%.

Insider Activity

In other Caterpillar news, Director David Maclennan bought 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Caterpillar news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Caterpillar

Large investors have recently made changes to their positions in the business. Private Trust Co. NA increased its holdings in Caterpillar by 0.3% in the 1st quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after acquiring an additional 30 shares during the last quarter. Southland Equity Partners LLC increased its holdings in Caterpillar by 4.0% in the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the last quarter. Davis Investment Partners LLC increased its holdings in Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 30 shares during the last quarter. Exchange Capital Management Inc. increased its holdings in Caterpillar by 3.3% in the 1st quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 32 shares during the last quarter. Finally, D Orazio & Associates Inc. increased its holdings in Caterpillar by 4.0% in the 1st quarter. D Orazio & Associates Inc. now owns 835 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 32 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.