Caterpillar (NYSE:CAT) Insider Lange Bob De Sells 16,070 Shares

Caterpillar Inc. (NYSE:CAT) insider Lange Bob De sold 16,070 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $704.97, for a total transaction of $11,328,867.90. Following the completion of the sale, the insider directly owned 79,953 shares in the company, valued at $56,364,466.41. This represents a 16.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Lange Bob De also recently made the following trade(s):

• On Monday, February 2nd, Lange Bob De sold 15,977 shares of Caterpillar stock. The shares were sold at an average price of $682.99, for a total value of $10,912,131.23.

Caterpillar Trading Down 2.0%

NYSE:CAT opened at $678.22 on Friday. The company has a market cap of $317.39 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 1.64 and a beta of 1.58. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $723.16. The business has a 50 day moving average price of $614.16 and a two-hundred day moving average price of $526.79. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.67 by $0.49. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business had revenue of $19.13 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the prior year, the company posted $5.14 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, January 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, January 20th. Caterpillar’s payout ratio is 32.09%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CAT shares. Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research note on Wednesday, January 7th. Truist Financial increased their target price on Caterpillar from $729.00 to $786.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada boosted their price target on Caterpillar from $587.00 to $658.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. DA Davidson increased their price objective on Caterpillar from $569.00 to $650.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays boosted their target price on shares of Caterpillar from $610.00 to $625.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $681.86.

Institutional Investors Weigh In On Caterpillar

Several institutional investors and hedge funds have recently bought and sold shares of CAT. Norges Bank acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $2,165,899,000. Wellington Management Group LLP increased its stake in shares of Caterpillar by 3,949.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after purchasing an additional 5,098,964 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Caterpillar by 1,851.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock worth $873,382,000 after buying an additional 1,736,631 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Caterpillar by 573.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after buying an additional 1,281,087 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Caterpillar by 425.2% in the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock valued at $295,738,000 after acquiring an additional 616,739 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.