Caterpillar (NYSE:CAT) Announces Quarterly Earnings Results

Caterpillar (NYSE:CAT) released its quarterly earnings data on Wednesday. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16), Briefing.com reports. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the previous year, the firm earned $5.52 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $3.43 during midday trading on Friday, reaching $379.63. 1,633,361 shares of the company were exchanged, compared to its average volume of 2,624,214. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33. The business’s fifty day moving average is $372.40 and its two-hundred day moving average is $351.42. Caterpillar has a one year low of $232.88 and a one year high of $403.60. The stock has a market cap of $184.08 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.49%. Caterpillar’s dividend payout ratio is 26.15%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CAT shares. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Bank of America boosted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, Evercore ISI reduced their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $357.56.

Insider Buying and Selling

In related news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

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.