Caterpillar Sees Unusually Large Options Volume (CAT)
Shares of Caterpillar (NYSE:CAT) saw some unusual options trading activity on Tuesday. Stock traders bought 34,025 put options on the company, Stock Ratings Network.com reports. This represents an increase of approximately 271% compared to the typical volume of 9,169 put options.
A number of research firms have recently commented on CAT. Analysts at Thomson Reuters/Verus upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Longbow Research reiterated a “buy” rating on shares of Caterpillar in a research note to investors on Friday. Finally, analysts at BMO Capital Markets cut their price target on shares of Caterpillar from $86.00 to $78.00 in a research note to investors on Wednesday, October 16th. They now have a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $91.88.
Caterpillar (NYSE:CAT) traded up 1.68% on Tuesday, hitting $89.17. 9,154,348 shares of the company’s stock traded hands. Caterpillar has a 1-year low of $79.49 and a 1-year high of $99.70. The stock’s 50-day moving average is $84.14 and its 200-day moving average is $85.4. The company has a market cap of $57.748 billion and a P/E ratio of 13.83.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.45 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.71 by $0.26. The company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $15.03 billion. During the same quarter last year, the company posted $2.54 earnings per share. Caterpillar’s revenue was down 15.8% compared to the same quarter last year. On average, analysts predict that Caterpillar will post $6.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Thursday, October 17th.
Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
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