Insider Selling: Caterpillar EVP Sells 9,580 Shares of Stock (CAT)
Caterpillar (NYSE:CAT) EVP James B. Buda unloaded 9,580 shares of the stock on the open market in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $94.16, for a total transaction of $902,052.80. Following the sale, the executive vice president now directly owns 36,787 shares in the company, valued at approximately $3,463,864. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CAT shares. Analysts at Thomson Reuters/Verus downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research note to investors on Monday. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Caterpillar in a research note to investors on Monday. Finally, analysts at Keefe, Bruyette & Woods downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, January 29th. They now have a $25.00 price target on the stock, up previously from $23.00. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $90.55.
Caterpillar (NYSE:CAT) traded down 1.59% on Monday, hitting $92.42. The stock had a trading volume of 9,085,760 shares. Caterpillar has a 1-year low of $79.49 and a 1-year high of $99.10. The stock has a 50-day moving average of $89.96 and a 200-day moving average of $85.84. The company has a market cap of $58.872 billion and a P/E ratio of 16.33.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, January 27th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.26. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.64 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, analysts predict that Caterpillar will post $5.82 earnings per share for the current fiscal year.
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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