Short Interest in Caterpillar Inc. (NYSE:CAT) Drops By 9.0%

Caterpillar Inc. (NYSE:CAT) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 8,880,000 shares, a decrease of 9.0% from the November 15th total of 9,760,000 shares. Based on an average trading volume of 2,250,000 shares, the short-interest ratio is presently 3.9 days. Approximately 1.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research firms have commented on CAT. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, Citigroup raised their price target on Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $374.69.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,868 shares of company stock valued at $9,679,489 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Caterpillar by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after purchasing an additional 67,148 shares during the period. Fisher Asset Management LLC lifted its position in shares of Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares in the last quarter. Legal & General Group Plc grew its stake in Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after acquiring an additional 64,452 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Caterpillar by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after purchasing an additional 8,088 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 0.8 %

NYSE:CAT traded down $3.12 during mid-day trading on Tuesday, hitting $375.80. 2,085,633 shares of the company’s stock traded hands, compared to its average volume of 2,546,573. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market capitalization of $181.44 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a fifty day moving average of $391.67 and a 200 day moving average of $361.16. Caterpillar has a twelve month low of $276.94 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the previous year, the business earned $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts forecast that Caterpillar will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.50%. Caterpillar’s payout ratio is currently 26.15%.

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.