Anthony D. Fassino Sells 3,185 Shares of Caterpillar Inc. (NYSE:CAT) Stock

Caterpillar Inc. (NYSE:CAT) insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Caterpillar Trading Down 1.1 %

CAT opened at $336.57 on Thursday. The company has a market cap of $164.60 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12. The company has a fifty day moving average price of $339.82 and a two-hundred day moving average price of $343.25. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $5.55 EPS. Analysts predict that Caterpillar Inc. will post 21.87 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, July 22nd were issued a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Caterpillar announced that its board has authorized a share buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Bank of America lowered their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial reissued a “buy” rating and issued a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $336.31.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds have recently added to or reduced their stakes in CAT. Acadian Asset Management LLC boosted its position in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Caterpillar by 1.5% in the 4th quarter. Catalyst Financial Partners LLC now owns 4,295 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 63 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $926,000. Natixis Advisors LLC lifted its position in shares of Caterpillar by 3.5% during the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in Caterpillar in the 4th quarter worth about $222,000. Institutional investors and hedge funds 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.