Investors Buy Large Volume of Call Options on Caterpillar (CAT)
Caterpillar (NYSE:CAT) was the target of some unusual options trading on Monday. Investors purchased 24,294 call options on the stock, Stock Ratings News reports. This represents an increase of approximately 105% compared to the typical volume of 11,857 call options.
CAT has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Caterpillar from $95.00 to $104.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at UBS AG reiterated a “neutral” rating on shares of Caterpillar in a research note to investors on Monday. They now have a $94.00 price target on the stock, up previously from $84.00. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Caterpillar in a research note to investors on Thursday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $91.84.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 23rd. 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 $13.42 billion for the quarter, compared to the consensus estimate of $14.49 billion. During the same quarter last year, the company posted $2.54 earnings per share. Caterpillar’s revenue was down 18.4% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a dividend of 0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, January 16th.
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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