Traders Buy Shares of Caterpillar, Inc. (CAT) on Weakness

Traders bought shares of Caterpillar, Inc. (NYSE:CAT) on weakness during trading on Monday. $81.76 million flowed into the stock on the tick-up and $45.53 million flowed out of the stock on the tick-down, for a money net flow of $36.23 million into the stock. Of all equities tracked, Caterpillar had the 19th highest net in-flow for the day. Caterpillar traded down ($0.05) for the day and closed at $126.88

CAT has been the subject of several recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $130.00 price target on shares of Caterpillar in a research report on Friday, September 8th. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price target for the company. in a research report on Monday, September 11th. Jefferies Group LLC reissued a “hold” rating and issued a $100.00 price target on shares of Caterpillar in a research report on Tuesday, August 29th. Credit Suisse Group reissued a “hold” rating and issued a $133.00 price target on shares of Caterpillar in a research report on Friday, September 22nd. Finally, Deutsche Bank AG lowered Caterpillar from a “buy” rating to a “hold” rating and reduced their price target for the stock from $121.00 to $106.00 in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $115.98.

The stock’s 50-day moving average is $121.39 and its 200 day moving average is $108.72. The firm has a market cap of $75.76 billion, a P/E ratio of 716.15 and a beta of 1.26.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. Caterpillar’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS. On average, equities research analysts predict that Caterpillar, Inc. will post $5.25 earnings per share for the current fiscal year.

In other news, insider Suzette M. Long sold 13,859 shares of Caterpillar stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the sale, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock valued at $22,979,332 over the last ninety days. 0.14% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CAT. Pinnacle Financial Partners Inc. increased its position in shares of Caterpillar by 19.3% during the first quarter. Pinnacle Financial Partners Inc. now owns 3,403 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 551 shares in the last quarter. Athena Capital Advisors LLC increased its position in shares of Caterpillar by 3.7% during the first quarter. Athena Capital Advisors LLC now owns 7,121 shares of the industrial products company’s stock worth $661,000 after purchasing an additional 254 shares in the last quarter. Elkfork Partners LLC increased its position in shares of Caterpillar by 25.4% during the first quarter. Elkfork Partners LLC now owns 12,750 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 2,584 shares in the last quarter. Point View Wealth Management Inc. increased its position in shares of Caterpillar by 11.3% during the first quarter. Point View Wealth Management Inc. now owns 8,121 shares of the industrial products company’s stock worth $753,000 after purchasing an additional 826 shares in the last quarter. Finally, Ray Gerald L & Associates Ltd. increased its position in shares of Caterpillar by 1.6% during the first quarter. Ray Gerald L & Associates Ltd. now owns 28,283 shares of the industrial products company’s stock worth $2,624,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 69.24% of the company’s stock.

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