Caterpillar Target of Unusually Large Options Trading (CAT)
Caterpillar Inc. (NYSE:CAT) saw unusually large options trading activity on Monday. Traders acquired 4,744 call options on the stock. This represents an increase of 183% compared to the average daily volume of 1,679 call options.
A number of institutional investors have recently made changes to their positions in CAT. Garde Capital Inc. boosted its position in shares of Caterpillar by 3.6% in the third quarter. Garde Capital Inc. now owns 7,237 shares of the industrial products company’s stock worth $473,000 after buying an additional 250 shares during the last quarter. Laurel Wealth Advisors Inc. purchased a new position in shares of Caterpillar during the third quarter worth about $216,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Caterpillar during the third quarter worth about $3,258,000. PVG Asset Management Corp purchased a new position in shares of Caterpillar during the third quarter worth about $2,577,000. Finally, Scopus Asset Management L.P. purchased a new position in shares of Caterpillar during the third quarter worth about $42,166,000. Institutional investors own 70.97% of the company’s stock.
Several research firms have recently weighed in on CAT. Vetr upgraded shares of Caterpillar from a “buy” rating to a “strong-buy” rating and set a $109.02 price objective for the company in a research report on Monday, February 13th. Goldman Sachs Group Inc upgraded shares of Caterpillar from a “buy” rating to a “conviction-buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, April 4th. Robert W. Baird set a $102.00 price objective on shares of Caterpillar and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Bank of America Corp reiterated a “buy” rating and set a $120.00 price objective on shares of Caterpillar in a research report on Thursday, May 25th. Finally, Evercore ISI upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Thursday, February 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $94.65.
Shares of Caterpillar (CAT) opened at 103.51 on Thursday. Caterpillar has a one year low of $70.53 and a one year high of $107.17. The stock’s market cap is $60.98 billion. The stock has a 50 day moving average of $101.57 and a 200 day moving average of $96.48.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.66. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Caterpillar had a negative net margin of 0.17% and a positive return on equity of 13.44%. Caterpillar’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. On average, analysts forecast that Caterpillar will post $4.12 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, May 20th. Investors of record on Monday, April 24th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Thursday, April 20th. Caterpillar’s payout ratio is -2,369.23%.
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Caterpillar Company Profile
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