Caterpillar (NYSE:CAT) Shares Gap Down to $363.52

Caterpillar Inc. (NYSE:CAT) shares gapped down before the market opened on Thursday . The stock had previously closed at $363.52, but opened at $330.44. Caterpillar shares last traded at $337.79, with a volume of 2,249,267 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. TD Cowen raised their price target on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. StockNews.com cut Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Morgan Stanley started coverage on Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $307.56.

Caterpillar Stock Performance

The company has a market cap of $168.80 billion, a PE ratio of 16.85, a P/E/G ratio of 1.62 and a beta of 1.17. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm’s 50-day simple moving average is $349.37 and its two-hundred day simple moving average is $300.03.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating the consensus estimate of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same period in the prior year, the firm earned $3.86 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Caterpillar Inc. will post 21.32 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

Insider Transactions at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,769 shares of company stock valued at $11,508,906. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Caterpillar during the 4th quarter worth $1,660,560,000. International Assets Investment Management LLC raised its holdings in Caterpillar by 28,603.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after acquiring an additional 1,488,813 shares in the last quarter. Capital Wealth Planning LLC raised its holdings in Caterpillar by 27,495.2% in the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares in the last quarter. Winslow Capital Management LLC raised its holdings in Caterpillar by 2,265.3% in the 3rd quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock valued at $305,168,000 after acquiring an additional 1,070,570 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Caterpillar by 14.9% in the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock valued at $1,648,431,000 after purchasing an additional 781,111 shares during the period. Institutional investors own 70.98% of the company’s stock.

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.