David Maclennan Buys 300 Shares of Caterpillar (NYSE:CAT) Stock

Caterpillar Inc. (NYSE:CAT) Director David Maclennan acquired 300 shares of the stock in a transaction dated Thursday, November 6th. The shares were bought at an average price of $568.86 per share, with a total value of $170,658.00. Following the completion of the transaction, the director directly owned 7,947 shares of the company’s stock, valued at $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Caterpillar Trading Up 0.1%

CAT stock traded up $0.49 during mid-day trading on Thursday, reaching $569.64. The company’s stock had a trading volume of 1,738,161 shares, compared to its average volume of 2,806,746. The company has a market cap of $266.86 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The business’s 50 day moving average price is $486.22 and its 200 day moving average price is $414.84. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter last year, the firm posted $5.17 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s payout ratio is currently 31.01%.

Wall Street Analyst Weigh In

CAT has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Morgan Stanley boosted their target price on Caterpillar from $350.00 to $380.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Jefferies Financial Group boosted their price objective on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Robert W. Baird boosted their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $588.94.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently bought and sold shares of CAT. Kilter Group LLC bought a new position in Caterpillar during the 2nd quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Caterpillar during the 2nd quarter valued at approximately $28,000. Marquette Asset Management LLC raised its position in Caterpillar by 1,060.0% during the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Compass Financial Services Inc raised its position in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the 2nd quarter valued at approximately $32,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.