Caterpillar Inc. (NYSE:CAT) Director Buys $33,859.00 in Stock

Caterpillar Inc. (NYSE:CAT) Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Caterpillar Stock Down 1.3 %

Shares of NYSE:CAT opened at $329.36 on Friday. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a market cap of $161.07 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10. The company has a fifty day simple moving average of $339.86 and a 200 day simple moving average of $343.44.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.55 EPS. On average, equities research analysts anticipate 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. Stockholders of record on Monday, July 22nd were given a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.71%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Caterpillar declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds have recently added to or reduced their stakes in the business. Partnership Wealth Management LLC bought a new position in shares of Caterpillar in the 4th quarter worth about $26,000. Richardson Financial Services Inc. bought a new position in Caterpillar in the fourth quarter worth about $27,000. Thompson Investment Management Inc. acquired a new position in Caterpillar in the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAT. Bank of America dropped their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and issued a $399.00 price target (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Citigroup assumed coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Company Profile

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.