Caterpillar (NYSE:CAT) Shares Down 2.5% Following Insider Selling

Shares of Caterpillar Inc. (NYSE:CATGet Free Report) fell 2.5% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $329.02 and last traded at $329.98. 931,063 shares traded hands during trading, a decline of 63% from the average session volume of 2,520,274 shares. The stock had previously closed at $338.52.

Specifically, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Maclennan acquired 500 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, with a total value of $168,695.00. Following the acquisition, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAT. Citigroup raised their price target on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. The Goldman Sachs Group increased their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Robert W. Baird increased their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and an average target price of $323.35.

Get Our Latest Stock Report on Caterpillar

Caterpillar Trading Down 2.1 %

The company has a market capitalization of $162.00 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. The business’s 50 day simple moving average is $355.03 and its 200 day simple moving average is $319.59. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83.

Caterpillar (NYSE:CATGet Free Report) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Research analysts anticipate that Caterpillar Inc. will post 21.81 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, April 22nd were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, April 19th. Caterpillar’s dividend payout ratio is currently 23.48%.

Institutional Trading of Caterpillar

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares in the last quarter. Capital World Investors lifted its holdings in shares of Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after purchasing an additional 96,479 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after purchasing an additional 179,908 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Caterpillar by 1.6% in the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after purchasing an additional 111,384 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after purchasing an additional 47,258 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

About Caterpillar

(Get Free Report)

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.

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