Caterpillar, Inc. (NYSE:CAT) Insider Sells $20,826,898.60 in Stock

Caterpillar, Inc. (NYSE:CAT) insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Caterpillar, Inc. (NYSE:CAT) opened at 113.92 on Friday. The company has a 50-day moving average of $111.03 and a 200 day moving average of $101.77. The stock has a market capitalization of $67.32 billion, a price-to-earnings ratio of 636.42 and a beta of 1.25. Caterpillar, Inc. has a 12 month low of $79.93 and a 12 month high of $115.46.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, July 18th. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. Caterpillar’s payout ratio is currently 2,080.00%.

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A number of equities analysts have recently weighed in on CAT shares. Bank of America Corporation upgraded Caterpillar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $120.00 in a research note on Thursday, May 11th. Stifel Nicolaus cut their target price on Caterpillar from $111.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, April 26th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research note on Friday, June 16th. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price objective on the stock. in a research note on Tuesday, April 25th. Finally, Zacks Investment Research downgraded Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Caterpillar has a consensus rating of “Hold” and a consensus price target of $107.15.

Institutional investors have recently added to or reduced their stakes in the company. WFG Advisors LP boosted its position in Caterpillar by 0.4% in the second quarter. WFG Advisors LP now owns 8,538 shares of the industrial products company’s stock worth $917,000 after buying an additional 33 shares in the last quarter. Toronto Dominion Bank boosted its position in Caterpillar by 25.7% in the second quarter. Toronto Dominion Bank now owns 201,949 shares of the industrial products company’s stock worth $21,697,000 after buying an additional 41,299 shares in the last quarter. Archford Capital Strategies LLC boosted its position in Caterpillar by 107.5% in the second quarter. Archford Capital Strategies LLC now owns 3,511 shares of the industrial products company’s stock worth $294,000 after buying an additional 1,819 shares in the last quarter. Cetera Investment Advisers boosted its stake in Caterpillar by 30.2% in the second quarter. Cetera Investment Advisers now owns 8,897 shares of the industrial products company’s stock valued at $952,000 after buying an additional 2,063 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Caterpillar by 1.9% in the second quarter. Advisory Services Network LLC now owns 9,887 shares of the industrial products company’s stock valued at $1,062,000 after buying an additional 187 shares during the period. 70.27% of the stock is owned by hedge funds and other institutional investors.

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