Caterpillar (NYSE:CAT) Shares Gap Down to $194.86

Shares of Caterpillar Inc. (NYSE:CAT – Get Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $194.86, but opened at $187.50. Caterpillar shares last traded at $185.26, with a volume of 75,652 shares trading hands.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. UBS Group lowered their target price on Caterpillar from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday. Tigress Financial lifted their target price on Caterpillar from $278.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, May 20th. Morgan Stanley lowered their target price on Caterpillar from $161.00 to $142.00 and set an “underweight” rating on the stock in a research note on Monday, July 18th. Wells Fargo & Company lowered their target price on Caterpillar from $230.00 to $205.00 and set a “maintains” rating on the stock in a research note on Wednesday. Finally, Credit Suisse Group lifted their target price on Caterpillar from $226.00 to $236.00 and gave the company a “maintains” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.27.

Caterpillar Stock Performance

The firm has a fifty day moving average of $192.90 and a 200-day moving average of $204.54. The stock has a market capitalization of $97.53 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.29 and a beta of 1.01. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48.

Caterpillar (NYSE:CAT – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.17. The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. Caterpillar’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 12.6 EPS for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. The ex-dividend date is Tuesday, July 19th. Caterpillar’s payout ratio is 40.23%.

Insider Transactions at Caterpillar

In other news, insider Joseph E. Creed sold 2,757 shares of the business’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total value of $590,356.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

A number of institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC increased its stake in Caterpillar by 322.6% in the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Nauset Wealth Management. LLC acquired a new position in Caterpillar in the first quarter valued at $29,000. Arcadia Investment Management Corp MI acquired a new position in Caterpillar in the first quarter valued at $33,000. Sierra Capital LLC acquired a new position in Caterpillar in the fourth quarter valued at $38,000. Finally, Castle Wealth Management LLC acquired a new position in Caterpillar in the second quarter valued at $33,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Caterpillar Company Profile

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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.