Caterpillar Inc. (NYSE:CAT) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 6,860,000 shares, a decrease of 14.8% from the January 15th total of 8,050,000 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 3,220,000 shares, the short-interest ratio is presently 2.1 days.
NYSE CAT traded down $2.62 on Friday, hitting $137.10. The stock had a trading volume of 148,235 shares, compared to its average volume of 3,140,119. Caterpillar has a one year low of $111.75 and a one year high of $150.55. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 1.80. The stock has a market cap of $74.23 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.64 and a beta of 1.50. The company’s 50-day moving average is $142.47 and its two-hundred day moving average is $134.86.
Caterpillar (NYSE:CAT) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.37 by $0.26. Caterpillar had a net margin of 11.32% and a return on equity of 41.85%. The firm had revenue of $13.14 billion during the quarter, compared to analysts’ expectations of $13.42 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. Caterpillar’s quarterly revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Caterpillar will post 9.34 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its holdings in shares of Caterpillar by 957.3% in the fourth quarter. Penserra Capital Management LLC now owns 10,658 shares of the industrial products company’s stock valued at $1,573,000 after acquiring an additional 9,650 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Caterpillar by 29.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 637,420 shares of the industrial products company’s stock valued at $94,134,000 after acquiring an additional 146,525 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Caterpillar by 31.6% in the fourth quarter. Guggenheim Capital LLC now owns 167,103 shares of the industrial products company’s stock valued at $24,677,000 after acquiring an additional 40,089 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Caterpillar by 4.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 559,975 shares of the industrial products company’s stock valued at $82,697,000 after acquiring an additional 22,599 shares in the last quarter. Finally, Brookfield Hedge Solutions LLC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $1,499,000. Institutional investors and hedge funds own 64.93% of the company’s stock.
A number of equities research analysts recently weighed in on CAT shares. Credit Suisse Group lowered their price objective on shares of Caterpillar from $173.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Daiwa Capital Markets raised shares of Caterpillar from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $143.00 to $165.00 in a research report on Tuesday, January 21st. Robert W. Baird reaffirmed a “buy” rating and set a $185.00 price objective on shares of Caterpillar in a research report on Monday, February 3rd. Citigroup decreased their target price on shares of Caterpillar from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Morgan Stanley decreased their target price on shares of Caterpillar from $137.00 to $126.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $145.47.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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